Problem 4-116 (Algo) [LO 4-4] Chipman Inc. produces water pumps. Overhead costs have been identified as follows: Activity Pdol Material handling Machine maintenance Setups Cost $75,525.00 $72,600.00 $78,057.00 Activity Driver Number of moves Number of machine hours Number of production runs Activity 475 36,300 63 Chipman makes 3 models of pumps with the following details: Units produced Number of moves Machine hours Production runs Economy Standard Premium 10,140 21,700 3,585 170 131 174 9,100 20,400 6,800 14 15 34 Required: a. Calculate the activity rate for each activity. (Round your answers to 2 decimal places.) Activity Rate Activity Pool Material Handling Machine Maintenance Setups b. Determine the amount of indirect costs assigned to each of the products (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Cost Models Economy Standard Premium