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Exercise 7-13 (Algo) Computing ABC Product Costs [LO7-3, L07-4] Complete this question by entering your answers in the tabs below. Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow Required 1 Required 2 Compute the activity rate for each activity cost pool. Activity Cost Pool Direct Labor- Hours per Annual Unit Production 0.60 25,000 units 0.20 40,000 units Machine setups Activity Rate per setup Hubs Sprockets Special processing per MH (Required Required 2 > Additional information about the company follows: Complete this question by entering your answers in the tabs below. a. Hubs require $34 in direct materials per unit, and Sprockets require $10. b. The direct labor wage rate is $17 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: Required 1 Required 2 Activity Determine the unit product cost of each product according to the ABC system. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Hubs Estimated Overhead Cost $ 24,300 $225,500 $159,000 Activity Cost Pool (Activity Measure) Machine setups (number of setups) Special processing machine-hours) General factory (organization-sustaining) Sprockets Hubs Sprockets Total 150 120 270 4,100 4,100 NA NA NA Direct materials Direct labor Overhead Unit cost $ 0.00 $ 0.00 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.