Precision Manufacturing Incorporated (PMI) makes two types of industrial component parts-the EX300 and the TX500. It annually produces 70,000 units of EX300 and 13,500 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 $ 376,325 $ 130,000 TX500 $ 172,550 $ 47,500 Total $ 548,875 $ 177,500 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) Setups (setup hours) Manufacturing Overhead Product-level (number of products) General factory (direct labor dollars) $ 175,875 262,500 202,400 86,975 EX300 100,000 125 Activity TX500 67,500 400 1 1 Total 167,500 525 2 $ 130,000 $ 47,500 $ 177,500 Total manufacturing overhead cost $ 727,750 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. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B Compute the plantwide overhead rate that would be used in the company's conventional cost system. (Round your answer to 2 decimal places.)