Rosehut Olive Oil Company makes two grades of olive oil: standard and extra virgin. Rosehut has identified two activity 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 Standard Extra Virgin Washing, Pressing & Filtering Washing, Pressing, (WPF) $ 1, 611, 200 and Filtering hours 45, 800 hours 106,200 hours Bottling $ 577, 500 Number of bottles 308,000 bottles 77,000 bottles Additional information about each grade of olive oil is as follows: Direct Materials Direct Labor Grade Sales Revenue Costs Costs Standard $ 5, 120,000 $ 900, 000 $ 375,000 Extra Virgin $ 2,300, 000 $ 600, 000 $ 150,000 Required: 1. Calculate the activity rate for each activity 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 activity pool. Note: Round your answers to 2 decimal places. Activity Cost Pool Washing, Pressing & Filtering (WPF) per hour Bottling per bottle