Rosehut Olive Oil Company makes two grades of ollve oll: standard and extra virgin. Roschut has identified two activity pools, the related costs per pool, the cost driver for each pool, and the expected usage for each pool. Additional information about each grade of olive oil is as follows: 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. Calculate the activity rate for each activity pool. Note: Round your answers to 2 decimal places. Determine total manufacturing cost for each product. Using the activity rates, determine the total amount of overhead assigned to each product. Note: Round activity rates to 2 decimal places. Calculate the gross profit for each product