Precision Manufacturing Inc. (PMI) makes two types of industrial component parts-the EX300 and the TX500. It annually produces 51,000 units of EX300 and 11,600 units of TX500. The company's conventional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company's two product lines is shown below: Direct materials Direct labor EX300 $357,325 TX500 $153,550 Total $510,875 $111,000 $ 38,000 $149,000 The company is considering implementing an activity-based costing system that distributes all of its manufacturing overhead to four activities as shown below: Activity Activity Cost Pool (and Activity Measure) Manufacturing Overhead EX300 Machining (machine-hours) $152,900 81,000 TX500 58,000 Setups (setup hours) Product-level (number of products) 74,400 76,660 30 1 210 1 Total 139,000 240 2 General factory (direct labor dollars) 38,740 $111,000 $38,000 $149,000 Total manufacturing overhead cost $342,700 Required: 1-a. Compute the plantwide overhead rate that would be used in the company's conventional cost system. 1-b. Using the plantwide rate, compute the unit product cost for each product. 2-a. Compute the activity rate for each activity cost pool. 2-b. Using the activity rates, compute the unit product cost for each product