ACTIVITY-BASED COSTING & ACTIVITY-BASED MANAGEMENT - 3 points A company has identified the following overhead costs and cost drivers for the coming year. Overhead Item Cost Driver Budgeted Cost (PHP) Budgeted Activity Level Machine set-up No. of set-ups 20,000 200 Inspection No. of inspections 130,000 6,500 Materials handling No. or material moves 80,000 8,000 Engineering Engineering hours 50,000 1.000 The following information was collected from the two products that were bring produced: Ching Chong Direct Materials PHP 12,000 PHP 8,000 Direct Labor PHP 2,000 PHP 4,000 Units completed 50 200 No. of set-ups 4 No. of inspections 10 30 No. of material moves 10 50 Engineering hours 50 10 Required: 1. Overhead cost allocated to Ching and Chong 2. Cost per unit of Ching and Chong 3. Selling price per unit of Ching and Chong, assuming a mark-up of 40% of cost