Precision Manufacturing Incorporated (PMI) makes two types of Industrial component parts-the EX300 and the TX500. It annually produces 52,000 units of EX300 and 11,700 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 $ 358,325 $ 112,000 TX500 $ 154,550 $ 38,500 Total $ 512,875 $ 150,500 The company is considering Implementing an activity-based costing system that distributes all of its manufacturing overhead to four activities as shown below. Activity Cost Pool (and Activity Measure) Machining (machine-hours) Manufacturing Overhead EX300 Activity TX500 $ 161,575 82,000 Setups (setup hours) 81,600 Product-level (number of products) General factory (direct labor dollars) 77,390 40,635 35 1 58,500 220 1 Total 140,500 255 2 $ 112,000 $ 38,500 $ 150,500 Total manufacturing overhead cost $ 361,200 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.