Product Costing Accuracy, Consumption Ratios Plata Company produces two products: a mostly handcraited soft leather belecise sold under the label Maletin Elegant and a testher briefcase produced largely through automation and sold under the label Maletin Tina The two products use two overhead activities, with the following costs. Setting up equipment 50,000 Machining 18,000 The controller has collected the expected annual prime couts for each briefcase, the machine hours, the setup hours and the expected production Elegant Fina Direct labor 59,000 $3,000 Direct materials $5,000 3,000 Units 3,000 3,000 Machine hours 500 4,500 Setup hours 100 100 Required 1. Concrotal Connections you think that the weat lobor costs and direct materials contre countly woed to each brauca Yes, Beaune direct materials and direct laborare directly traceabile to each product, their rostansignment should be accurate, 2. Calculate the consumption ratios for each city Hound to two decimal places, Elegant Fina Machine 2. Calculate the consumption ratios for each activity Round to two decimal places Hegant Fina Machining 0.1 0.9 Setups 0.5 0.5 V 1a. Calculate the overhead cost per unit for each brefcase by using a plantwido rate based on direct labor costs. Hoond rates to the rearest cent. Llegant per bricate per briefcase 36. Based on your calculations above which of the following statements is correct? More machine and setup costs are assigned to Elegant than Fina. V 4. Conceptual connection Calculate the overhead cost per unit for each breate by using eventuead rates based on machine hours and setup hours. Round your moments to the Fina nearest cent per un lent Fina pert