Problem 1 (8 points) Snow Products Corporation makes two products, titanium Rims and Posts. Additional information about the company follows: a. Rims require $17 in direct materials per unit, and Posts require $10. b. The direct labor wage rate is $16 per hour. Following are the data regarding the two products and ABC costing: Data Regarding the two product follows Rims Posts Direct Labor-hour per unit Annual Production 0.5 20,000 0.3 80,000 Activity Cost pool: Activity Activity cost pool (and activity Estimated measure) Overhead costs Rims Posts Total Machine setups (number of setups) 20,000 70 90 160 Special Processing (machine hours) 200,000 3,000 1,000 4,000 General factory (direct labor hours) 300,000 10,000 24,000 34,000 Required: Determine the total cost of Rims according to the ABC system. Show details of your working.