Somani Corporation has an activity-based costing system with three activity cost pools-Machining. Setting Up, and other. The company's overhead costs, which consist of equipment depreciation and indirect labor, have been allocated to the cost pools already and are provided in the table below. Equipment depreciation......... Indirect labor Total Activity Cost Pools Machining Setting Up Other Total $54,000 $ 9,000 $27,000 $90,000 300 2.100 600 3,000 $54.300 $11,100 $27.600 $93.000 Costs in the Machining cost pool are assigned to products based on machine-hours (MHS) and costs in the Setting Up cost pool are assigned to products based on the number of batches. Costs in the Other cost pool are not assigned to products. Data concerning the two products and the company's costs appear below: Product M8.... Product K3 Total MHS 4,700 5,300 10.000 Batches 300 1,700 2.000 Sales (total) Direct materials (total) Direct labor (total) Product M8 Product K3 $220,500 $318,900 $109,000 $130,300 $76, 100 $141,200 Required: a. Calculate activity rates for each activity cost pool using activity-based costing. b. Determine the amount of overhead cost that would be assigned to each product using activity-based costing