Required information [The following information applies to the questions displayed below.] Tent Master produces Pup tents and Pop-up tents. The company budgets $336,000 of overhead cost and 56,000 direct labor hours. Additional information follows. Per Unit Pup tent Pop-up tent Selling Price $ 76 71 Direct Materials $ 20 18 Direct Labor $ 40 22 Activity Assembly Electricity Materials purchasing Total Budgeted Cost $ 224,000 38,000 74,000 $ 336,000 Activity Cost Driver Direct labor hours (DLH) Machine hours (MH) Purchase orders (PO) Budgeted Activity Usage 56,000 10,000 400 Required: 1. Compute an activity rate for each activity using activity-based costing. 2. The following actual activity usage produced 10,000 Pup tents and 5,000 Pop-up tents. Allocate overhead cost to Pup tents and to Pop-up tents and compute overhead cost per unit for each product. Activity Cost Driver Direct labor hours (DLH) Machine hours (MH) Purchase orders (PO) Activity Usage Pup tents Pop-up tents 37,000 19,000 3,500 6,500 160 240 3. Compute product cost per unit for Pup tents and for Pop-up tents. 4. For each product, compute the gross profit per unit (selling price per unit minus the product cost per unit). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute an activity rate for each activity using activity-based costing. (Round "Activity Rate" to 2 decimal places.) Budgeted Cost Budgeted Activity Usage Activity Rate Activity Assembly Electricity Materials purchasing Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 The following actual activity usage produced 10,000 Pup tents and 5,000 Pop-up tents. Allocate overhead cost to Pup tents and to Pop-up tents and compute overhead cost per unit for each product. (Round "Activity Rate" and "Overhead per unit" to 2 decimal places.) Allocate overhead to Pup tent Activity Usage Activity Rate Allocated Cost $ 0 Activity Assembly Electricity Materials purchasing 0 0 Total allocated cost $ 0 Units produced Overhead cost per unit Allocate overhead to Pop-up tent Activity Usage Activity Rate Allocated Cost $ 0 Activity Assembly Electricity Materials purchasing Total allocated cost 0 0 $ 0 Units produced Overhead cost per unit Required 1 Required 2 Required 3 Required 4 Compute product cost per unit for Pup tents and for Pop-up tents. (Round "Activity Rate" and final answers to 2 decimal places.) Product Cost Per Unit Direct Materials Direct Labor Overhead per Unit Pup tent $ 20.00 $ 40.00 Pop-up tent 18.00 22.00 Required 1 Required 2 Required 3 Required 4 For each product, compute the gross profit per unit (selling price per unit minus the product cost per unit). (Round "Activity Rate" and final answers to 2 decimal places. Enter any product costs in excess of selling prices as negative values.) Per Unit Selling Price Product Cost Gross Profit $ 76.00 Pup tent Pop-up tent 71.00