II. Speedy Company has identified the following activities relating to Indirect Production Costs: Activity Activity Costs Cost Drivers 1. Machine Setup $20,000 4,000 setup hours 2. Materials Handling $80,000 20,000 pounds of materials 3. Electricity $10,000 100,000 kilowatt-hours Total costs $110,000 Speedy Company has obtained the following data concerning two products: Products Speedy 1 Speedy2 Direct materials cost $20,000 $25,000 Direct labor cost $12,000 $20,000 Number of setup hours 300 500 Pounds of materials used 4,000 Kilowatt-hours 10,000 2,500 20,000 Required: (10 pts.) Using the activity-based costing approach, calculate the total indirect production costs for Speedy 1 and Speedy2