Rosehut Olive Oil Company makes two grades of olive oil: standard and extra virgin. Rosehut has identified two activity cost pools, the related costs per pool, the cost driver for each pool, and the expected usage for each pool. Total Activity Activity Cost Cost Driver Washing, Pressing & Filtering (WPF) Bottling $1,537,500 Washing, Pressing, and Filtering hours $ 412,500 Number of bottles Standard 45,000 hours 300,000 bottles Extra Virgin 105,000 hours 75,000 bottles Additional information about each grade of olive oil is as follows: Direct Direct Grade Sales Revenue Materials Labor Standard Extra Virgin $5,100,000 Costs $900,000 Costs $375,000 $2,100,000 $600,000 $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product 3. Determine total manufacturing cost for each product 4. Calculate the gross profit for each product. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the activity rate for each cost pool. (Round activity rates to 2 decimal places.) Activity Washing, Pressing & Filtering (WPF) Bottling Cost Pool per hour per bottle Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Using the activity rates, determine the total amount of overhead assigned to each product. (Round activity rates to 2 decimal places.) Extra Virgin Standard Activity Activity Rate Activity for Standard Overhead assigned to Standard Overhead Activity for Extra Virgin assigned to Extra Virgin WPF Botting Total Required 1 Required 3 >