Northwest Company produces two types of glass shelving: rounded edge and squared edge. The company reports the following cost data Direct materials Direct labor Overhead (using plantwide rate) Total product cost Units produced Product cost per unit Rounded Edge Squared Edge $ 42,000 $ 54,000 14,000 36,000 48,600 91,400 $ 104,600 $ 181,400 14,000 18,000 $ 7.47 $ 10.08 Total $ 96,000 50,000 140,000 $ 286,000 Northwest's controller wants to apply activity-based costing to allocate the $140,000 of overhead cost to the two products to see whether product cost per unit would change markedly from that above. The company's budgeted activity usage equals its actual activity usage for the period. The following additional information is collected. Activity Usage Activity Budgeted cost Activity Cost Driver Rounded Edge squared Edge Total Purchasing $ 7,400 Parchase orders 209 orders 531 orders 740 orders 72,600 Depreciation of machinery Machine hours 500 hours 1,500 hours 2,000 hours Setup 60.000 Setups 40 setups 210 setups 250 setups Total $ 140,000 Required: 1. Compute the activity rate for each activity using activity-based costing. 2. Compute overhead cost per unit for each of the two products using activity-based costing. 3. Determine product cost per unit for each of the two products using activity-based costing Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places) Activity Rate Activity Budgeted Cost Budgeted Activity Usage