ABC makes two products. Following are the information on its product Cracker and Biscuits. The labor is paid at a standard rate of $10 per hour. The budgeted total overhead cost is $12,000. The overhead is absorbed using labor hours. Following is the breakdown of the overhead cost: The following activities were measured for both product Determine the overhead absorption rate using the current method and determine the product cost for each product. (3 marks) Compute the activity rate for each of the cost pools and determine the total cost per unit using the activity-based approac