12 7.14 points Exercise 17-19 (Algo) Activity-based costing to compute activity rates, overhead cost per unit, and product cost per unit LO P3 Northwest Company produces two types of glass shelving: rounded edge and squared edge. The company reports the following cost data. Rounded Edge 01:54:10 Direct materials Direct labor $ 37,800 Squared Edge $ 49,800 Total $ 87,600 Overhead (using plantwide rate) 12,600 44,400 33,200 84,400 45,800 128,800 Total product cost Units produced References Product cost per unit $ 94,800 12,600 $ 167,400 16,600 $ 262,200 $ 7.52 $ 10.08 Northwest's controller wants to apply activity-based costing to allocate the $128,800 of overhead cost to the two products to see whether product cost per unit would change markedly from that above. The company's budgeted activity usage equals its actual activity usage for the period. The following additional information is collected. Activity Budgeted Cost Purchasing Depreciation of machinery Setup $ 6,700 67,000 55,100 Activity Cost Driver Purchase orders Machine hours Setups Rounded Edge Activity Usage Squared Edge Total 174 orders 500 hours 40 setups 496 orders 1,500 hours 210 setups 670 orders 2,000 hours 250 setups Total $ 128,800 Required: 1. Compute the activity rate for each activity using activity-based costing. 2. Compute overhead cost per unit for each of the two products using activity-based costing. 3. Determine product cost per unit for each of the two products using activity-based costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places.) Activity Purchasing Depreciation Setup Budgeted Cost Budgeted Activity Usage Activity Rate < Required 1 Required 2