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. Activity Washing, Pressing & Filtering (WPF) Bottling Total Activity Cost $1,673,150 Cost Driver Washing, Pressing, and Filtering hours $ 706,500 Number of bottles Standard 46,400 hours 314,000 bottles Extra Virgin 107,100 hours 78,500 bottles Additional information about each grade of olive oil is as follows: Grade Standard Sales Revenue $5,135,000 Direct Materials Direct Labor Costs $900,000 Costs $375,000 Extra Virgin $2,450,000 $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