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 150,000 450,000 Prime costs $10,800,000 $51,300,000 $62.100,000 Machine hours 150,000 750,000 900,000 Engineering hout 500 4,500 5,000 Receiving orders 300 900 1,200 Inspection hours 600 1,200 1,500 Overhead costs: Machining 59,900,000 Engineering 2,450,000 Receiving 312.000 Inspecting products 324,000 Required: 1. Calculate the four activity rates 2. Calculate the unit costs using activity rates. Round your answers to the nearest cent. Unit cost 13.67 X per unit Regular Deluxe 24.23 X per unit Calculate the overhead cost per unit. Round your answers to the nearest cent. Overhead Cost Regular 36.90 X per un Deluxe 1,164,20 X per unit 3. If consumption ratios instead of activity rates were used to assion costs instead of activity rates show the cost signment for the inspection activity Cost assignment Regular Deluxe