Philip Company produces mathematical and financial calculators and operates at capacity. Data related to the two products follows. (Click the icon to view the data.) Total manufacturing overhead costs are: (Click the icon to view the overhead costs.) Machining Set up Inspection Requirement 1. Choose a cost driver for each overhead cost pool and calculate the manufacturing overhead cost per unit for each product. Begin by choosing a cost driver for each overhead cost pool. Activity Cost driver ... Rate Requirements 1. Choose a cost driver for each overhead cost pool and calculate the manufacturing overhead cost per unit for each product. 2. Compute the manufacturing cost per unit for each product. 3. How might Philip's managers use the new cost information from its activity-based costing system to better manage its business? Data table Machining costs Setup costs Inspection costs Print $ Total 375,000 120,000 105,000 Done Data table Annual production in units Direct materials cost Direct manufacturing labor cost Direct manufacturing labor-hours Machine-hours Number of production runs Inspection hours $ $ Mathematical 50,000 150,000 $ 50,000 $ 2,500 25,000 50 1,000 Financial 100,000 300,000 100,000 5,000 50,000 50 500