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 (WPP) Bottling $1,842,750 Washing, Pressing, and Filtering hours $1,072,500 Number of bottles Standard 48,000 hours 330,000 bottles Extra Virgin 109,500 hours 82,500 bottles Additional information about each grade of olive oil is as follows: Direct Direct Materials Labor Sales Grade Standard Revenue $5,175,000 Costs $900,000 Costs $375,000 Extra Virgin $2,850,000 $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