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Meryl Manufacturing Company is a diversified manufacturer that manufactures three products (Sine, Cos and Tan) in a continuous production process. Senior management has asked the controller to conduct an activity-based costing study. The controller identified the amount of factory overhead required by the critical activities of the organization as follows: The activity-base usage quantities and units produced for the three products were determined from corporate records and are as follov Each product requires 45 minutes per unit of machine time. Required: 1. Determine the activity rate for each activity. Round all per unit amounts to the nearest cent. Formula: Activity rate = Activity cost pool + Number of activity base 2. Determine the total and per-unit activity cost for all three products. Round all total costs to whole number and round all per unit amounts to the nearest cent. Formula: Activity-Base Usage Activity rate from Req. (1) = Activity cost; Sum all activity costs per product to determine the total activity costs and Divide the total activity overhead by budgeted units to compute the activity costs per unit for each product