Precision Manufacturing Incorporated (PMI) makes two types of industrial component partsthe EX300 and the TX500. It ar'mually produces 62,000 units of EX300 and 12,700 units of TX500. The company's conventional cost system allocates r'nanufacjcurmg : 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: EX300 TX500 Total Direct materials $ 368,325 $ 164,550 $ 532,875 Direct labor $ 122,000 $ 43,500 $ 165,500 The company is considering implementing an activity-based costing system that distributes all of its manufacturing overhead to four activities as shown below: Manufacturing Activity Activity Cost Pool (and Activity Measure) Overhead EX300 TX500 Total Machining (machine-hours) $ 217,700 92,000 63,500 155,500 Setups (setup hours) 170,100 85 320 405 Product-level (number of products) 92,150 1 1 2 General factory (direct labor dollars) 66,200 $ 122,000 $ 43,500 $ 165,500 Total manufacturing overhead cost $ 546,150 Required: 1-a. Cornpute the plarjtwide 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. Compute the plantwide overhead rate that w i ' i S ould be used in the company's conventional cost system. (Round your answer to T [ooos |