Exercise 7-13 Computing ABC Product Costs [LO7-3, LO7-4] Fogerty Company makes two products, titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor- Hours per Annual Unit Production Hubs 0.60 22,000 units Sprockets 0.20 43,000 units Additional information about the company follows: a. Hubs require $33 in direct materials per unit, and Sprockets require $17. b. The direct labor wage rate is $12 per hour. c. Hubs are more complex to manufacture than Sprockets and they require special equipment. d. The ABC system has the following activity cost pools: Activity Estimated Activity Cost Pool (Activity Measure) Overhead Cost Hubs Sprockets Total Machine setups (number of setups) $ 13,680 80 64 144 Special processing (machinehours) $ 282,000 4,700 0 4,700 General factory (organization-sustaining) $ 90,600 NA NA NA Required: 1. Compute the activity rate for each activity cost pool. Machine setups -- Special processing -m 2. Determine the unit product cost of each product according to the ABC system. (Round intermediate calculations and nal answers to 2 decimal places.) __