Chipman Inc. produces water pumps. Overhead costs have been identified as follows: Activity Pool Material handling Material maintenance Setups Cost $65,000 $95,000 $75,000 Activity Driver Number of moves Number of machine hours Number of production runs Activity 400 38,000 60 Chipman makes 3 models of pumps with the following details: Units produced Number of moves Machine hours Production runs Economy Standard Premium 10,000 20,000 3,500 100 125 175 9,000 22,000 7,000 5 20 35 Required: a. Calculate the activity rate for each activity. (Round your answers to 2 decimal places.) Cost Activity Rate Material Handling Material Maintenance Setups b. Determine the amount of indirect costs assigned to each of the products. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Cost Models Economy Standard Premium