E4-16 (Static) Calculate Total Manufacturing Costs and Gross Profit (LO 4-4) Rosehut Olive Oil Company makes two grades of olive oil: standard and extra virgin, Rosehut has identified two activity cost pools, the related costs per pool, the cost driver for each pool, and the expected usage for each pool. Total Activity Cost Cost Driver Standard Extra Virgin Washing, Pressing & Filtering (WPF) $1,537,500 Washine, Pressing and Filtering hours 45,000 hours 185,000 hours Bottling $ 412,500 Number of bottles Jeo,000 bottles 75,ce bottles Additional Information about each grade of olive oil is as follows: Grade Standard Extra Virgin Direct Sales Materials Revenue Costs $5,100,000 $900,000 $2,100,000 $600,000 Direct Labor Costs $375,000 $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product 4. Calculate the gross profit for each product. Complete this question by entering your answers in the tabs below. Required: 1. Calculate the activity rate for each cost pool 2. Using the activity rates, determine the total amount of overhead assigned to each product 3. Determine total manufacturing cost for each product 4. Calculate the gross profit for each product. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Using the activity rates, determine the total amount of overhead assigned to eady product: (Round activity rates to 2 decimal places.) Standard Overhead Activity for Standard assigned to Standard Extra Virgin Overhead Activity for assigned to Extra Virgin Extra Virgin Activity Activity Rate S 45,000.00 WPF Bottling Total $ 0 $