Olivo Industries, a small, family-run manufacturer, has adopted an ABC system. The following manufacturing activities, indirect manufacturing costs, and usage of cost drivers have been estimated for the year: LOADING...(Click the icon to view activities, total costs, and cost drivers.) During May, James and Priscilla Olivo machined and assembled Job 553. James worked a total of 9 hours on the job, while Priscilla worked 4 hours on the job. James is paid a $ 25 per hour wage rate, while Priscilla is paid $ 30 per hour because of her additional experience level. Direct materials requisitioned for Job 553 totaled $ 1 comma 125. The following additional information was collected on Job 553: The job required 2 machine setups, 7 machine hours, and 3 quality control tests. 1. Compute the activity cost allocation rates for the year. 2. Complete the job cost record for Job 553.