Data for the next 5 questions: Cosgrove ma Product L-15. each product. Specifically, the formula for selling price is as follows s selling price for each product is based on manufacturing costs ofGof Product L-15 is of fairly recent origin, havin closely related to that of Product K-7 Product L4%s the more complex of the two products. time for Product K-7or time per unit to manufacture compared to I hour of direct labor g been developed as an attempt to enter a market 2hours of direct labor time per unit to manufacture compared to 1 hour of direct labor Currently factory overhead is applied to the products using a plant-wide rate on the basis of direct labor hours. The company estimated it would incur $550,800 in manufacturing overhead costs and 60,000 direct labor hours to produce 40,000 units of Product K-7 and 10,000 units of Product L-15 during the current year Unit costs for materials and labor are as follows: Direct material Direct labor $12 S8 $25 S16 17. Compute cost of production per unit of Product K-7 under current plant-wide OH allocation. 18. Compute cost of production per unit of Product L-15 under current plant-wide OH allocation. Continued- Assume company has received several complaints from customers for overpricing. To address the problem, company is considering the application of Activity Based Costing for the allocation of factory overhead costs among the two products. Data relating to the company's activity cost pools for the current year are given below: Estimated Overhead Costs $244,800 $43,500 $ 1 05,000 $157500 $550,800 Expected Cost Driver Machine setups Purchase orders Machine-hours Maintenance requests 2.400 setups 600 orders 17,500 machine hours 1,500 requests Activity usage information by two the product lines is as follows: Product K-7 800 No. of Machine setup No. of Purchase Orders No. of Machine Hours Product L-15 1,600 500 12,000 1,200 No. of Maintenance Requests 5,500 19. Compute cost of production per unit of Product K-7 under Activity Based Costing 20. Compute cost of production per unit of Product L-15 under Activity Based Costing