Fontillas Instrument, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, it produced 50 range instruments and 300 pressure gauges and incurred estimated overhead costs of $94, 500. An analysis of estimated overhead costs reveals the following activities: The cost driver volume for each product was as follows: (a) Determine the overhead rate for each activity. (b) Assign the manufacturing overhead costs for April to the two products using activity-based costing. (c) Write a memorandum to the president of Fontillas Instrument explaining the benefits of activity-based costing