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 110,000 330,000 Prime costs $9,460,000 $33,660,000 $43,120,000 Machine hours 110,000 550.000 660,000 Engineering hours 300 2,700 3,000 Receiving orders 400 1,200 1,600 Inspection hours 1,000 2,000 3,000 Overhead costs: Machining $9,900,000 Engineering 1,770,000 Receiving 448,000 Inspecting products 300,000 Required: 1. Calculate the four activity rates. Machining rate per machine hour Engineering rate per hour Receiving rate per order Inspecting rate s per hour Required: 1. Calculate the four activity rates. per machine hour per hour Machining rate Engineering rate Receiving rate Inspecting rate 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 ratios instead of activity rates were used to assign costs instead of activity rates, show the cost assignment for the inspection activity. Cost assignment Regular Deluxe