Activity-Based Product Costing Davis Company produces two hair dryers: regular and deluxe. The company has four activities: machining, engineering, receiving, and inspection Information on these activities and their drivers is given below. Regular Deluxe Total Units produced 90,000 270,000 $28,080,000 Prime costs $8,100,000 $36,180,000 Machine hours 90,000 450,000 540,000 Engineering hours 500 4,500 5,000 500 1,500 Receiving orders Inspection hours 2,000 3,000 1,000 2,000 Overhead costs Machining Engineering Receiving 54,860,000 2,350,000 600,000 Inspecting products 330,000 Required 1. Calculate the four activity rates. Machining rate Engineering rate Receiving rate Inspecting rate per machine hour per hour per order per hour 2. Calculate the unit costs using activity rates. Round your answers to the nearest cent. Unit cost Regular per unit Deluxe per unit Calculate the overhead cost per unit. Round your answers to the nearest cent. Overhead Cost Regular per unit Deluxe per unit 3. If consumption ration instead of activity rates were used to sign costs instead of activity rates, show the cost assignment for the inspection activity Cost assignment Regular Deluxe