Data regarding the 20x1 production of Kona and Malaysian coffee are shown in the following table. There will be no raw-material inventory for either of these coffees at the beginning of the year. Kona Budgeted sales 3,800 lb. Batch size 950 lb. Setups 3 per batch Purchase order 950 lb. size lhr. per 100 Roasting time 0.5hr. per 100 Blending time 0.1hr. per 100 Packaging time Malaysian 109,000 lb. 21,800 lb. 3 per batch 54,500 lb. 1 hr. per 100 lb. 0.5 hr. per 100 lb. 0.1 hr. per 100 lb. lb. lb. lb. Required: 1. Using WGCC's current product-costing system: a. Determine the company's predetermined overhead rate using direct-labor cost as the single cost driver. b. Determine the full product costs and selling prices of one pound of Kona coffee and one pound of Malaysian coffee. 2. Develop a new product cost, using an activity-based costing approach, for one pound of Kona coffee and one pound of Malaysian coffee. Complete this question by entering your answers in the tabs below. Required Required Required 1A 1B Develop a new product cost, using an activity-based costing approach, for one pound of Kona coffee and one pound of Malaysian coffee. (Round your intermediate calculations and final answers to 2 decimal places.) Kona coffee New Product Cost per pound per Malaysian Data regarding the 20x1 production of Kona and Malaysian coffee are shown in the following table. There will be no raw-material inventory for either of these coffees at the beginning of the year. Kona Budgeted sales 3,800 lb. Batch size 950 lb. Setups 3 per batch Purchase order 950 lb. size lhr. per 100 Roasting time 0.5hr. per 100 Blending time 0.1hr. per 100 Packaging time Malaysian 109,000 lb. 21,800 lb. 3 per batch 54,500 lb. 1 hr. per 100 lb. 0.5 hr. per 100 lb. 0.1 hr. per 100 lb. lb. lb. lb. Required: 1. Using WGCC's current product-costing system: a. Determine the company's predetermined overhead rate using direct-labor cost as the single cost driver. b. Determine the full product costs and selling prices of one pound of Kona coffee and one pound of Malaysian coffee. 2. Develop a new product cost, using an activity-based costing approach, for one pound of Kona coffee and one pound of Malaysian coffee. Complete this question by entering your answers in the tabs below. Required Required Required 1A 1B Develop a new product cost, using an activity-based costing approach, for one pound of Kona coffee and one pound of Malaysian coffee. (Round your intermediate calculations and final answers to 2 decimal places.) Kona coffee New Product Cost per pound per Malaysian