Exercise 5-49 Product-Costing Accuracy, Consumption Ratios, Activity Rates, Activity Costing Tristar Manufacturing produces two types of battery-operated toy soldiers: infantry and special forces. The soldiers are produced by using one continuous process. Four activities have been identified: machining, setups, receiving, and packing. Resource drivers have been used to as- sign costs to each activity. The overhead activities, their costs, and the other related data are as follows: Product Infantry Special forces Costs Machine Hours Setups 20,000/49000 300/400 20,000/40000 10040 $80,000 $24,000 Receiving Orders 900/1000 100.000 $18,000 Packing Orders 1,600 460 80000 $30,000 Required: 1. Calculate the total overhead assigned to each product by using only machine hours to calculate a plantwide rate. 2. Calculate consumption ratios for each activity. (Round to two decimal places.) 3. Calculate a rate for each activity by using the associated driver. (Round to two decimal places.) 4. Assign the overhead costs to each product by using the activity rates computed in Requirement 3. 5. CONCEPTUAL CONNECTION Comment on the difference between the assignment in Requirement 1 and the activity-based assignment