Consider the data for a clinical laboratory (see the attached Excel sheet). a) Using Activity Based Costing techniques, determine the allocation rate for each activity. b) Now, using this allocation rate, estimate the total cost of performing each test.

Activity Data Test A Test B Activity Allocation rate Annual Costs Driver Test A Test B Total Consumption Cost Consumption Cost $10,000 Number of tests Receive specimen 3,000 2,000 $25,000 Number of minutes per test Set up equipment $100,000 Number of minutes per test Run test $10,000 Number of minutes per test Record results 3 $5,000 Number of minutes per test: Transmit results Total overhead costs $150,000 Consider the data for a clinical laboratory a) Using Activity Based Costing techniques, determine the allocation rate for each activity b) Now, using this allocation rate, estimate the total cost of performing each test