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 Annua per Hubs Sprockets 0.80 10,008 units e.40 40,800 units 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: Overhead Activit Estimated Overhead ivity Cost Pool (Activity Measure) Machine setups (number of setups) Special processing (machine-hours) General factory (organization-sustaining) Cost s 72,e80 180 $200,00 5,00 $816,eee NA 400 e 5,80 NA 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 Complete this question by entering your answers in the tabs below. Required 1Required 2 Compute the activity rate for each activity cost pool. Activity Cost Pool Machine setups Special pr Activity Rate per setup per MH Complete this question by entering your answers in the tabs below Required 1 Required 2 Determine the unit product cost of each product according to the ABC system. (Do not round intermediate calculations. your answers to 2 decimal places.) Hubs Sprockets Direct materials Direct labor Overhead Unit cost