Question 4 (3,0 marks).. Major Instrument, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 60 range instruments and 600 pressure gauges were produced, and overhead costs of $94,500 were estimated. An analysis of estimated over- head costs reveals the following activities. Activity 1 Material handling 2 Machine setups 3 Quality inspections Cost Driver Number of requisitions Number of setups Total Cost $48,000 $28,500 Number of inspections $27,000 $103,500 Instruments Gauges Total 400 600 1,000 300 200 500 250 350 600 The cost driver volume for each product was as follows. Cost Driver Number of requisitions Number of setups Number of inspections Required: (a) Determine the overhead rate for each activity. (b) Assign the manufacturing overhead costs for April to the two products using activity-based costing.