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Examination 1 - Problem 1 restated Altima Company uses an overhead costing system based on direct labor hours for its two products X and Y. The company is considering adopting an activity-based costing system, and collects the following information for the month of October: Product X Production units Direct materials cost per unit Direct labor cost per hour Direct labor hours Overhead Cost Pool Machine setup Engineering change order Facility rent 20,000 $50 $10 34,000 Overhead Cost Product Y 2,000 $40 $10 6,000 Total Activity 60,000 1,000 setups 40,000 100 orders 90,000 1,000 sq. ft. Activity Consumption Product X Product Y 300 20 300 REQUIRED 1. Compute the unit manufacturing cost of each product under a volume-based costing system based on direct labor hours 2. Compute the unit manufacturing cost of each product under the activity-based costing system 700 80 700