Exercise 2A-1 Activity-Based Absorption Costing [LO2-5) Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor- Hours per Unit 2.60 Hubs Sprockets Annual Production 16, eee units 58,eee units 0.20 Additional Information about the company follows: a. Hubs require $24 in direct materials per unit, and Sprockets require $18. b. The direct labor wage rate is $14 per hour. c. Hubs are more complex to manufacture than Sprockets and they require special processing. d. The company's activity-based absorption costing system has the following activity cost pools: Hubs Activity Cost Pool (and Activity Measure) Machine setups (number of setups) Special processing (machine-hours) General factory (Direct labor-hours) Estimated Overhead Cost $ 22,680 $ 129,500 $ 296,800 Expected Activity Sprockets Total 140 112 252 3,780 3,7ee 9,609 11,600 21,200 Required: 1. Compute the activity rate for each activity cost pool. 2. Compute the unit product cost for Hubs and Sprockets using activity-based absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the activity rate for each activity cost pool. Activity Cost Pool Machine setups Activity Rate per setup per MH per DLH Special processing General factory Required 1 Required 2 Compute the unit product cost for Hubs and Sprockets using activity-based absorption costing. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Hubs Sprockets Direct materials Direct labor Manufacturing overhead Unit product cost S 0.00 S 0.00 Exercise 2A-1 Activity-Based Absorption Costing [LO2-5) Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor- Hours per Unit 2.60 Hubs Sprockets Annual Production 16, eee units 58,eee units 0.20 Additional Information about the company follows: a. Hubs require $24 in direct materials per unit, and Sprockets require $18. b. The direct labor wage rate is $14 per hour. c. Hubs are more complex to manufacture than Sprockets and they require special processing. d. The company's activity-based absorption costing system has the following activity cost pools: Hubs Activity Cost Pool (and Activity Measure) Machine setups (number of setups) Special processing (machine-hours) General factory (Direct labor-hours) Estimated Overhead Cost $ 22,680 $ 129,500 $ 296,800 Expected Activity Sprockets Total 140 112 252 3,780 3,7ee 9,609 11,600 21,200 Required: 1. Compute the activity rate for each activity cost pool. 2. Compute the unit product cost for Hubs and Sprockets using activity-based absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the activity rate for each activity cost pool. Activity Cost Pool Machine setups Activity Rate per setup per MH per DLH Special processing General factory Required 1 Required 2 Compute the unit product cost for Hubs and Sprockets using activity-based absorption costing. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Hubs Sprockets Direct materials Direct labor Manufacturing overhead Unit product cost S 0.00 S 0.00