Product-Costing Accuracy, Consumption Ratios Plata Company produces two products: a mostly handcrafted soft leather briefcase sold under the label Maletin Elegant and a leather briefcase produced largely through automation and sold under the label Maletin Fina. The two products use two overhead activities, with the following costs: Setting up equipment $ 8,000 Machining 24,000 The controller has collected the expected annun primo costs for each briefcase, the machine hours, the setup hours, and the expected production Elegant Fina Direct labor $9,000 $3,000 $3,000 $3,000 3,000 3,000 Direct materials Units Machine hours Setup hours Required: 500 4,500 100 100 2. Calculate the consumption ratios for each activity. Round your answers to one decimal place, 2 Elegant Fina Machining Setups 3a. Calculate the overhead cost per unit for each briefcase by using a plantwide rate based on direct labor costs. Round to the nearest cent. (Note: Do not round Intermediate calculations.) Elegant per briefcase Fina per briefcase 3b. Based on your calculations above which of the following statements is correct? 4. Conceptual Connection: Calculate the overhead cost per unit for each briefcase by using overhead rates based on machine hours and setup hours. Round your answers to the nearest centi Elegant per unit Fina per unit