Jacarda Company makes a composting bin that is subject to wide seasonal variations in demand. Unit product co a quarterly basis by dividing each quarter's manufacturing costs (materials, labour, and overhead) by the quarter's The company's estimated costs, by quarter, for the coming year are given below: First Quarter Second Third Fourth Direct materials Direct labour Manufacturing overhead Total manufacturing costs Number of units to be produced Estimated unit product cost $ 960,000 $ 480,000 $240,000 $720,000 480,000 636,000 240,000 588,000 564,000 120,000 360,000 612,000 $2,076,000 $1,308,000 $924,000 $1,692,000 $ 120,000 60,000 30,000 17.30 $ 21.80 $ 30.80 $ 90,000 18.80 Management finds the variation in unit product costs to be confusing and difficult to work with. It has been sugges lies with manufacturing overhead, since it is the largest element of cost. Accordingly, you have been asked to find way of assigning manufacturing overhead cost to units of product. After some analysis, you have determined that overhead costs are mostly fixed and therefore show little sensitivity to changes in the level of production Required: 2 Required: 1. Calculate the predetermined overhead rate based on units and direct labour? (Round your "per unit" answer to 2 decimal places.) oints Predetermined overhead rate-unit of product per unit Predetermined overhead rate-basis on direct labour cost % eBook References 2. Recompute the company's unit product costs in accordance with rate per unit in (1) above. (Round your answers to 2 decimal places.) Quarter First Second Third Fourth Estimated unit product cost