Shaker Stairs Co.designs and builds factory made premium wooden stairways for homes. The manufactured stairway components (spindles, risers, hangers, hand rails) permit installation of stairways of varying lengths and widths. All are of white oak wood. Budgeted manufacturing overhead costs for the year 2020 are as follows Overhead Cost Pools Amount Purchasing $75,000 82,000 220,000 Handling materials Production (cutting, milling, finishing) Setting up machines Inspecting Inventory control raw materials and finished goods) 100,000 108,000 126,000 Utilities 270,000 Total budgeted overhead costs $981 000 For the last 4 years. Shaker Stairs Co, has been charging overhead to products on the basis of machine hours. For the year 2020, 100,000 machine hours are budgeted. Jeremy Nolan, owner-manager of Shaker Stairs Co, recently directed his accountant, Bill Seagren, to implement the activity based costing system that he has repeatedly proposed. At Jeremy Nolan's request, Bill and the production foreman identify the following cost drivers and their usage for the previously bulgeted overhead cost pools. Activity Cost Pools Estimated Use of Cost Drivers Purchasing Cost Drivers Number of orders Number of moves 600 Handling materials 8,000 Production (cutting milling finishing Direct labor hours 100,000 Setting up machines Number of setups 1,250 Inspecting Number of inspections 6,000 Inventory control raw materials and finished goods) Number of components 168,000 Utilities Square feet occupied 90,000 Steve Hannon sales manager, has received an order for 250 stairways from Community Builders Inc, a large housing development contractor. At Steve's request, Bill prepares cost estimates for producing components for 250 stairways so Steve can submit a contract price per stairway to community Builders. He accumulates the following data for the production of 250 stairways. $103,900 Direct materials Direct labor $112.500 Machine hours 15,000 Direct labochours 5.500 Number of purchase orders 60 Number of material moves 800 Number of machine setups 100 Number of inspections 450 16.000 Number of components Number of square feet occupied 8,000 What is the manufacturing cost per stairway under the proposed activity-based costing? (Round answer to 2 decimal places, e.g. 12.25.) Total manufacturing cost per stairway 319.60