Chipman Inc. produces water pumps. Overhead costs have been identified as follows: Activity Pool Material handling Machine 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 10,000 20,000 100 125 9,000 22,000 5 20 Premium 3,500 175 7,000 35 Required: a. Calculate the activity rate for each activity. (Round your answers to 2 decimal places.) Cost Activity Rate Material Handling Machine 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