Steel Company uses activity-based costing and reports the following for this year. Compute an activity rate for each activity using activity-based costing. Activity Cutting Assembly Total Activity Cost Driver Budgeted Cost $ 77,500 Machine hours (MH)) 340,800 Direct labor hours (DLH) $418,300 Budgeted Activity Usage 3,100 machine hours 7,100 direct labor hours Multiple Choice $25 per MH for Cutting: $48 per DLH for Assembly $48 per MH for Cutting: $25 per DLH for Assembly $8 per MH for Cutting: $33 per DLH for Assembly $25 per MH for Cutting: $110 per DLH for Assembly $41 per MH for Cutting: $41 per DLH for Assembly