Activity rates and product costs using activity-based cost Idris Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: Activity Casting Assembly Inspecting Setup Materials handling Budgeted: Activity Cost Activity Base. $308,450 Machine hours 158,760 Direct labor hours 25,410 Number of inspections 32,160 Number of setups 37,260 Number of loads Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow: Activity Base Entry Dining Total Machine hours 5,270 4,680 9,950 Direct labor hours 4,540 6,800 11,340 Number of inspections 1,760 550 2,310 Number of setups 190 50 240 Number of loads 640 Units produced 10,400 170 5,200 810 15,600 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. a. Determine the activity rate for each activity. If required, round the rate to the nearest dollar. Activity Casting Assembly Inspecting Setup Activity Rate per machine hour per direct labor hour per inspection per setup Materials handling per load i b. Use the activity rates in (a) to determine the total and per-unit activity costs associated with each product. Round the per unit amounts to the nearest cent. Total Activity Cost Product Entry Lighting Fixtures Dining Room Lighting Fixtures Activity Cost Per Unit Aclivity rates and product costs using activity-based costing Idris Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: DATA Activity Budgeted Activity Cost Activity Base Casting Assembly Inspecting Setup $308,450 Machine hours 158,760 25,410 Direct labor hours Number of inspections 32,160 37,260 Number of setups Number of loads Materials handing Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow DATA Activity Base Machine hours Direct labor hours Number of inspections Number of setups Number of loads 2 Units produced 3 4 REQUIRED: 25 Determine the activity rate for each activity Entry Dining Total 6,270 4,880 9,950 4,540 6,800 11,340 1,700 550 2.310 190 50 240 640 170 810 10,400 5.200 15,000 Using formulas and cell references from the problem data, perform the required analysis Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWV2 26 for grading 27 28 Activity 29 Casting 30 Assembly 31 Inspecting 32 Setup 33 Materials handling 34 35 REQUIRED Activity Rate per machine hour per direct labor hour per inspection per setup per load 36 Use the activity rates in (a) to determine the total and per-unit activity costs associated with each product 37 Total Activity Cost Activity Cost Per Unit 39 Entry Lighting Fixtures 40 Dining Room Lighting Fixtures 41 Formulas Formulas