Exercise 7A-1 Time-Driven Activity-Based Costing [LO 7-6) Saratoga Company manufactures jobs to customer specifications. The company is conducting a time-driven activity-based costing study in its Purchasing Department to better understand how Purchasing Department labor costs are consumed by individual jobs. To aid the study, the company provided the following data regarding its Purchasing Department and three of its many jobs: Number of employees Average salary per employee Weeks of employment per year Hours worked per week Practical capacity percentage 20 $ 25,000 52 40 854 Requisition Bid Processing Evaluation 15 45 Inspection 30 Minutes per unit of the activity Number of requisitions processed Number of bid evaluations Number of inspections Job X 8 4 7 Job Y 5 3 3 Job z 4 5 7 Required: 1. Calculate the cost per minute of the resource supplied in the Purchasing Department 2. Calculate the time-driven activity rate for each of Saratoga's three activities. 3. Calculate the total purchasing labor costs assigned to Job X, Job Y, and Job Z. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the time-driven activity rate for each of Saratoga's three activities. (Round your intermediate calculations and final Hours worked per week Practical capacity percentage 40 85% Requisition Bild Processing Evaluatio 15 45 Minutes per unit of the activity Job Y Number of requisitions processed Number of bid evaluations Number of inspections Job x 8 4 7 3 Required: 1. Calculate the cost per minute of the resource supplied in the Purchasing 2. Calculate the time-driven activity rate for each of Saratoga's three activitie 3. Calculate the total purchasing labor costs assigned to Job X, Job Y, and J Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the cost per minute of the resource supplied in the Purchasing Depart places.) Cost per minute of the resource supplied 0.24 Required 2 Check my work mode : This shows what is correct or incorrect for the w uired: alculate the cost per minute of the resource supplied in the Purchasing De alculate the time-driven activity rate for each of Saratoga's three activities. alculate the total purchasing labor costs assigned to Job X, Job Y, and Job Answer is complete but not entirely omplete this question by entering your answers in the tabs below. quired 1 Required 2 Required 3 culate the time-driven activity rate for each of Saratoga's three activities. (Ro swers to 2 decimal places.) Requisition Processing $ 3.60 Bid Evaluation $ 13.95 Inspection -driven activity rate $ 9.30