Catalan Company produces mathematical and financial calculators and operates at capacity Recently, the company has incroduced the ABC costing system The analysis of costs based on ABC costing reveals finding One of the products is making a loss Data related to the two products are presented here: Annual production in units Mathematical 56,500 Financial 80,000 Direct material costs $240,000 $480,000 Direct manufacturing labour costs $75,000 $150,000 Machine-hours 40,000 120,000 Number of production runs 60 90 Inspection hours 1,500 750 Total manufacturing overhead costs are as follows Total Machining costs Setup costs $2,400,000 150,000 Inspection costs 135,000 The selling price for the mathematical calculator is $17 and for the financial calculator is $35 Required: Using the activity based costing data presented above. per machine hour, the cost rate of sets overhead is pers contrace 1. Compute the cost rate for each overhead activity. The cost rate for machining overhead is for inspection overhead per inspection mark and for financial calculator 2. Compute the manufacturing overhead cost per unit for mathematical and financial calculators. The manufacturing overhead coats for mathematical calculator amount to (2 marks) to calculator and the operating loss amounts to Ge 1 Compute the operating profit for each unit, it turns out that one of the products has a too low selling price. This is the round to one decima) (2 marko FILL IN THE BLANK (ONLY DIGITS DO NOT USE ANY CURRENCY SIGNS, OR COMMAS FOR 000. FOR EXAMPLE: $1,000 WRITE AS 1000 ROUND THE NUMBERS TO ONLY ONE DECIMAL