5 Direct materials Direct labor Overhead (using plantwide rate) Total product cost Units produced Product cost per unit Activity Purchasing Depreciation of machinery Setup Total overhead Northwest's controller wants to apply activity-based costing to allocate the $124,000 of overhead costs to the two products to see whether product cost per unit would change markedly from that above. The following information is collected. Required 1 Rounded Edge Squared Edge $36,200 $ 49,800 17,200 28,800 42,600 81,400 $ 160,000 $ 96,000 12,000 $ 8.00 Budgeted Cost $ 6,400 64,600 53,000 $ 124,000 Per Unit Rounded Edge Squared Edge Required 2 Required 3 16,000 $ 10.00 Required: 1. Compute an activity rate for each activity using activity-based costing. 2. Compute overhead cost per unit for each of the two products using activity-based costing. 3. Determine product cost per unit for each of the two products using activity-based costing. Complete this question by entering your answers in the tabs below. Direct Materials S 3.01 $ 3.11 Total $ 86,000 46,000 124,000 $ 256,000 Activity Driver Purchase orders Machine hours Setups 1.43 1.80 Rounded Edge 159 orders 500 hours 40 setups Determine product cost per unit for each of the two products using activity-based costing. (Round "Activity Rate" to 2 decimal places and other intermediate calculations to the nearest whole dollar amount. Round your final answers to 2 decimal places.) Direct Labor Product Cost per Unit Overhead Activity Usage Squared Edge 481 orders 1,500 hours 210 setups Total 640 orders 2,000 hours 250 setups