can you show work and explain

is: Previously, Sanjay Bhatt, Firenza Company's controller, had applied overhead on the basis of machine hours. Expected machine hours for the coming year are 50,000. Sanjay has been reading about activitybased costing, and he wonders whether or not it might offer some advantages to his company. He decides that appropriate drivers for overhead activities are purchase orders for purchasing, number of setups for setup cost, engineering hours for engineering cost, and machine hours for other, Budgeted amounts for these drivers are 5,000 purchase orders, 500 setups, and 2,500 engineering hours. Sanjoy has been asked to prepare bids for two jobs with the following information: The typical bid price indudes a 40 percent markup over full manufacturing cont. Required: Note: When required, round your answers to the nearest cent. 1. Calculate a plantwide rate for Firenza Company based on machine hours. per machine hour What is the bid price of each job using this rate? 2. Calculate activity rates for the four overtiead activities. What is the bid price of each job using these rates