Monrovia Bike Corporation manufactures one model of bicycles: the Gully Runner. Monrovia has decided to utilize an activity- based costing system for the current year and calculated the following estimates: Activity Estimated Overhead Cost Estimated Activity Automated Assembly...... $189,000 7,000 machine hours Parts management......... $63,000 100 part numbers Calulate the Activity Rate for the Parts Management activity that should be used during the year. Multiple Choice $630/part $27/ machine hour $8.87/part $35.49/part