Exercise 7-13 Computing ABC Product Costs [LO7-3, LO7-4] Fogerty Company makes two products-titanium Huby and Sprockets. Data regarding the two products follow Direct Labor- Hours per Unit Production 0.80 10,000 units 0.40 40,000 units Annual Hubs Sprockets Additional information about the company follows: a. Hubs require $32 in direct materials per unit, and Sprockets require $18. b. The direct labor wage rate is $15 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 Activity Cost Pool (Activity Measure) Machine setups (number of setups) Special processing (machine-hours) Ceneral factory (organization-sustaining) s 72,000 100 $200,000 5,000 NA CostHubs Sprockets Total 300 400 0 5,000 NA $816,000 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 systenm. dety cost pool. 2. Determine the unit product cost of each product according to the ABC system. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the unit p your answers to 2 decimal places.) roduct cost of each product according to the ABC system. (Do not round inter HubsSprockets Direct materials Direct labor Overhead Unit cost 0.00 S 0.00 K Required 1