Q7-10 James Products makes two products: Standard and Premium Data regarding the two products follow: Direct Labour-Hour per unit Direct Material per unit|Annual Production in units Premium 0.4 $16 25,000 85,000 Standard 0.2 $11 Additional information: 1. The direct labour wage rate is $20 per hour. 2. Premium are more complex to manufacture and require special equipment. 3. The ABC system has the following activity cost pools: Estimated Activity Overhead Premium Standard Total Cost Activity Activity Cost Pool Measure Machine setups Number of setups Special processing Machine-hours General factory Direct labour-hours 100 80 180 $ 25,000 $ 150,000 $ 250,000 4,000 7,000 4,000 16,000 23,000 Required: Determine the unit cost of the Premium according to the ABC system