. Rosehut Olive On 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 Deiver Extra Virgin Washing. Pressing & Filtering (WPF) $1,652,400 Washing, Dressing and Filtering hours 46,200 hours 106,800 hours Bottling $ 663,000 Number of battles 312,000 bottles 78,000 bottles Standard Additional information about each grade of olive oil is as follows: Direct Direct Sales Materials Labor Grade Revenue Costs Costs Standard 35,130,000 $900,000 $375,000 Extra Virgin 32,400,000 $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 Required 1 Required 2 Required 3 Required 4 Calculate the activity rate for each cost pool. (Round your answers to 2 decimal places.) Cost Pool Activity Washing. Pressing & Filtering (WPF) Bottling per hour per bottle Regulec Required 2 > 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.) Standard Overhead Activity for Standard assigned to Standard Extra Virgin Overhead Activity for Extra Virgin assigned to Extra Virgin Activity Activity Rate WPF Bottling Total Required 1 Required 2 Required 3 Required 4 Determine total manufacturing cost for each product. Standard Extra Virgin Direct Materials Direct Labor ABC Overhead Total manufacturing costs Required 1 Required 2 Required 3 Required 4 Calculate the gross profit for each product. Standard Extra Virgin Revenue Cost of goods sold Gross Profit