product cost per unit LO P3 Northwest Company produces two types of glass shelving rounded edge and squared edge. The company reports the following cost data Rounded Edge Squared Edge Total Direct materials $ 39,600 $ 51,600 $ 91,200 Direct labor 13,200 34,400 47,600 Overhead (using plantwide rate) 46,200 87,400 133,600 Total product cost $ 99,000 $ 173,400 $ 272,400 Units produced 13,200 17,200 Product cost per unit $ 7.50 $ 10.08 Northwest's controller wants to apply activity-based costing to allocate the $133,600 of overhead cost to the two products to see whether product cost per unit would change markedly from that above. The company's budgeted activity usage equals its actual activity usage for the period. The following additional Information is collected Activity Usage Activity Budgeted Cost Activity Cost Driver Rounded Edge Squared Edge Purchasing 5 7,000 Purchase orders 189 orders 511 orders 700 orders Depreciation of machinery 69,400 Machine hours 1,500 hours 2,000 hours Setup 57,200 40 setups 210 setups Total $ 133,600 Required: 1. Compute the activity rate for each activity using activity-based costing 2. Compute overhead cost per unit for each of the two products using activity-based costing 3. Determine product cost per unit for each of the two products using activity-based costing. Total 500 hours Setups 250 setups Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places.) Activity Budgeted Cost Budgeted Activity Usage Activity Rate Purchasing Depreciation Setup Required 2 Complete this question by entering your answers in the tabs below. Book Hint Print Required 1 Required 2 Required 3 Compute overhead cost per unit for each of the two products using activity-based costing. (Round "Activity Rate" to 2 deci places and other answers to the nearest whole dollar amount.) Overhead cost per unit-Rounded Edge Activity Activity Usage Activity Rate Allocated Cost Purchasing Depreciation Setup Total allocated cost Units produced Overhead cost per unit bforences Activity Usage Activity Rate Allocated Cost Overhead cost per unit-Squared Edge Activity Purchasing Depreciation Setup Total allocated cost Units produced Overhead cost per unit References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine product cost per unit for each of the two products using activity-based costing. (Round intermediate calculation and final answers to 2 decimal places.) Per Unit Direct Materials Direct Labor Overhead Product Cost per Unit Rounded Edge Squared Edge