Exercise 7-13 (Algo) Computing ABC Product Costs (L07-3, L07-4) Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow. Hubs Sprockets Direct Labor-Hours per Unit 0.70 0.30 Annual Production 22,000 units 54,000 units Additional information about the company follows: a. Hubs require $27 in direct materials per unit, and Sprockets require $18. b. The direct labor wage rate is $19 per hour c Hubs require special equipment and are more complex to manufacture than Sprockets. d. The ABC system has the following activity cost pools: Estimated Overhead Activity Cost Pool (Activity Measure) Cost Hubs Machine setups (number of setups) $ 23,940 140 Special processing (nachine hours) $ 188,000 4,700 General factory (organization sustaining) $ 307,000 NA Required: 1. Compute the activity rate for each activity cost pool 2. Determine the unit product cost of each product according to the ABC system Activity Sprockets 112 0 NA Total 252 4,700 MA 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 Activity Rate Machine setups per setup Special processing per MH Rur Required 2 > Required 1 Reddired 2 Determine the unit product cost of each product according to the ABC system. (Do not round Intermediate calculations. Round your answers to 2 decimal places.) Hubs Sprockets Direct materials Direct labor Overhead Unit cost 020 020 $ 0.00 $