E$4-16($Algo$)$ Calculate Total Manufacturing Costs and Gross Profit $[$LO $4-4]$

Rosehut Olive Oil Company makes two grades of olive oil: standard and extra virgin. Rosehut has identified two activity pools, the related costs per pool, the cost driver for each pool, and the expected usage for each pool.

$\backslash$table$[[$Activity$,,\backslash$table$[[$Activity$],[$Cost$]],$Cost Driver,Standard,Extra Virgin$],[$Washing$,$ Pressing & Filtering $($WPF$),$$$,1,652,400,$Washing, Pressing, and Filtering hours,$46,200$ hours,$106,800$ hours$],[$Bottling$,,$$ $663,000,$Number of bottles,$312,000$ bottles,$78,000$ bottles$]]$

Additional information about each grade of olive oil is as follows:

$\backslash$table$[[$Grade$,$Sales Revenue,$\backslash$table$[[$Direct$],[$Materials$],[$Costs$]],$Direct Labor Costs$],[$Standard$,$$ $5,130,000,$$ $900,000,$$ $375,000],[$Extra Virgin,$ $2,400,000,$$ $600,000,$$ $150,000]]$

Required:

Calculate the activity rate for each activity pool.

Using the activity rates, determine the total amount of overhead assigned to each product.

Determine total manufacturing cost for each product.

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 activity pool.

Note: Round your answers to $2$ decimal places.

$\backslash$table$[[$Activity$,$Cost Pool,$],[$Washing$,$ Pressing & Filtering $($WPF$),],[$Bottling$,,$per hour$]]$