Activity Rates and Activity-Based Product Costing Hammer Company produces a variety of electronic equipment. One of its plants produces two laser printers: the deluxe and the regular. At the beginning of the year, the following data were prepared for this plant: Quantity Selling price Deluxe Regular 100,000 800,000 $900 $529 $750 $483 Unit prime cost In addition, the following information was provided so that overhead costs could be assigned to each product: Activity Name Activity Driver Deluxe Regular Activity Cost Setups Number of setups 300 200 $2,200,000 Machining Machine hours 100,000 300,000 60,000,000 Engineering Engineering hours 50,000 100,000 9,000,000 Packing Packing orders 100,000 400,000 450,000 Required: 1. Calculate the overhead rates for each activity. If required, carry your answers out to the nearest cent. Setups 4,400 per setup Machining 150 per machine hour Engineering 60 per engineering hour Packing 0.90 per packing order