Coyote Company has been using ABC system for computation of costs of 2 products it makes: i.e., tables and chairs. James, accounting manager of Coyote, found following information about production costs incurred to make 1,000 chairs and 2,000 tables in May of 2022 Activity cost pools purchasing Processing Inspections Estimated overhead $60,000 $100,000 $40,000 Direct material costs/table Direct material costs/chair Direct labor costs/table= Direct labor costs/chair- $40 $30 $10 $15 Cost driver # of purchase orders Machine hours # of inspections cost Expected drivers per activity 1,000 orders 500 hours 50 inspections Instructions: 1. compute factory overhead costs assigned to chair productions 2. compute factory overhead costs assigned to table productions 3. compute COGM of tables and unit COGM of a table. 4. Compute COGM of chairs and unit COGM of a chair Expected use of Expected use cost drivers of cost drivers by Chair productions 400 orders 150 hours 10 inspections by table productions 600 orders 250 hours 40 inspections