Exercise 03: Major Instrument, Inc. munufactures two prodacts missile range instruments and space pressure gapes. During April, 40 range instruments and 200 pressure ganges were pooduced, and overthend costs ef 595,000 wete cstimated. An analysas of estimated everhead costs reveals the following activities. The cost driver volume for each product was as, follows. Instructions (a) Determine the overhead rate for each activity. (b) Assign the manufacturing overhead costs for April to the two products using activity-based costing. ACCT212-Mod02-Ch04 Classwork 04 Page 5 of 9