3. Consider the following data for a clinical laboratory (4 pts): a. Using activity-based costing techniques, determine the allocation rate for each activity. b. Using this allocation rate, estimate the total cost of performing each test. Activity Data Activity Annual Cost Driver Test A Test B Test C Test D Costs Receive specimen $10,000 No. of tests 2,000 1,500 1,000 500 Set up equipment 25,000 No. of min/test 5 5 10 10 Run test 100,000 No. of min/test 1 5 10 20 Record results 10,000 Transmit results 5,000 No. of min/test 2 2 2 24 No. of min/test 3 3 3 3 Total costs 150,000