Using the activity rates, determine the total amount of overhead assigned to each product. (Round activity rates to 2 decimal places.)

		Standard		Extra Virgin
Activity	Activity Rate	Activity for Standard	Overhead assigned to Standard	Activity for Extra Virgin	Overhead assigned to Extra Virgin
WPF
Bottling
Total			$0		$0

Determine total manufacturing cost for each product.

	Standard	Extra Virgin
Direct Materials
Direct Labor
ABC Overhead
Total manufacturing costs	$0	$0

Calculate the gross profit for each product.

	Standard	Extra Virgin
Revenue
Cost of goods sold
Gross Profit	$0	$0

Rosehut Olive Oil 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. Activity Washing, Pressing & Filtering (WPF) Bottling Total Activity Cost Cost Driver $1,929,950 Washing, Pressing, and Filtering hours $1,267,500 Number of bottles Standard 48,800 hours 338,000 bottles Extra Vir 110,700 hou 84,500 bot Additional information about each grade of olive oil is as follows: Grade Standard Extra Virgin Sales Revenue $5,195,000 $3,050,000 Direct Materials Costs $900,000 $600,000 Direct Labor Costs $375,000 $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. Complete this question by entering your answers in the tabs below. 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 Required 1 Required 2 >