Use the following information in answering questions three and four. Little Industries has identified the following activities, costs, and cost drivers: Purchasing Activity Production Scheduling Machining Material Handling Activity Costs $180,000 $160,000 $840,000 $200,000 Cost driver 4,000 purchase orders 400 production runs 6,000 machine hours 4,000 pallets moved Cost and activity associated with producing 3,000 units of product number Q-700 is as follows: Direct materials $12,000 $3,600 Direct labor Purchase orders 16 Production runs 4 Labor hours 180 Machine hours 50 Pallets moved 24 Units produced 3,000 3. Develop activity rates for each of the four activities of Little Industries. 4. What is the product cost for ONE UNIT of Q-700 using ABC rates for applying overhead