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Please show steps so I can understand (especially for Q2) Activity-Based Product Costing Roberts Company produces two weed eaters: basic and advanced. The company has

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Please show steps so I can understand (especially for Q2)

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Activity-Based Product Costing Roberts Company produces two weed eaters: basic and advanced. The company has four activities: machining, engineering, receiving, and inspection. Information on these activities and their drivers is given below. Basic Advanced Total Units produced 100,000 300,000 Prime costs $8,800,000 $31,200,000 $40,000,000 Machine hours 100,000 500,000 600,000 Engineering hours 200 1,800 2,000 Receiving orders 200 600 800 Inspection hours 800 1,600 2,400 Overhead costs: Machining $5,400,000 Engineering 1,160,000 Receiving 200,000 Inspecting products 408,000 Required: 1. Calculate the four activity rates. Machining rate $2] v/ per machine hour Engineering rate $- J per hour Receiving late $- VI per order Inspecting rate $- v/ per hour 2. Calculate the unit costs using activity rates. Round your answers to the nearest cent. Unit cost Basic $- X per unit Advanced $- X per unit Calculate the overhead cost per unit. Round your answers to the nearest cent. Overhead Cost Basic $- X per unit Advanced $- X per unit 3. If consumption ratios instead of activity rates were used to assign costs instead of activity rates, show the cost assignment for the inspection activity. Cost assignment Basic $ 136,000 V Advanced $ 272,000 4

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