Please see the screenshots below and fill in the lower tables as shown. Thank you!

Computing Product Costs Using Activity-Based Costing: Petrov Company identied the following activities, estimated costs for each activity, and identied cost drivers for each activity for this coming year. (These are the rst three steps of the activity-based costing model). Activity Cost Driver Estimated Annual Estimated Annual Cost Driver Overhead Costs Activity Production setup Number of production 15 60,000 100 production runs runs Materials handling Yards of material 140,000 10,000 yards purchased purchased Quality control Number of inspections 80,000 800 inspections Total $280,000 The company produces two products, MX1 and MX2. Information about these products of the month of March follows: MX1 MX2 Direct materials cost per unit $20 $30 Direct labor costs per unit $15 $45 Overhead cost per unit ? ? Product cost per unit ? 7 Units produced 1,000 units 700 units Actual cost driver activity levels for the month of March are as follows: MX1 MX2 Number of production runs 3 6 Yards of materials purchased 550 230 Number of inspections 40 10 a. Using the estimates for the year, compute the predetermined overhead rate for each activity (this is step 4 of the activity-based costing process). b. Using the activity rates calculated in requirement a and the actual cost driver activity levels shown for March, allocate overhead to the three products for the month of March (this is step 5 of the activity-based costing process). Template for part (a) Activity Cost Driver Estimated Estimated Cost Pre-determined Overhead Costs Driver Activity Overhead Rate Production Number of $ runs 35 per etups production units production run Materials Vards of materials $ l yards $ per yard handling purchased purchased Quality control Number of $ l _l \"1 per inspections inspections inspection otal $ Template for part (b) MX1 MX2 Predetermined Cost Driver Overhead Cost Driver Overhead Overhead Rate ActIVIty Allocated ActIVIty Allocated $ 1 per production |'_] $ [1 $ [1 run 55 I per ya rd [_l 55 [_l $ purchased 55 per inspection [1 $ [1 $ Total allocated