Fogerty Company makes two products--titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor- Hours per Unit 0.70 0.30 09 Hubs Sprockets Annual Production 25,000 units 55,000 units Additional information about the company follows: a. Hubs require $28 in direct materials per unit, and Sprockets require $11. b. The direct labor wage rate is $20 per hour. c. Hubs are more complex to manufacture than Sprockets and they require special processing. d. The company's activity-based absorption costing system has the following activity cost pools: Expected Activity aces Activity Cost Pool (and Activity Measure) Machine setups (number of setupa) Special processing (machine-hours) General factory (Direct labor-hours) Estimated Overhead Cost $ 27,405 $ 140,000 $ 306,000 Hubs 145 4,000 17,500 Sprockets 116 0 16,500 Total 261 4,000 34,000 Required: 1. Compute the activity rate for each activity cost pool. 2. Compute the unit product cost for Hubs and Sprockets using activity based absorption costing. Required 1 Required 2 Compute the activity rate for each activity cost pool. Activity Cost Pool Activity Rate +per setup Machine setups Special processing General factory per MH per DLH Compute the unit product cost for Hubs and Sprockets using activity-based absorption costing. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Hubs Sprockets Direct materials Direct labor Manufacturing overhead Unit product cost