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Group Problem 2 SU Company makes two products: Standard and Unique. The Standard product line is a high volume line and the Unique line is a low volume, specialized product. Assume the overhead costs from service departments have gone through a stage 1 allocation. SU currently uses a machine hour basis to allocate indirect manufacturing costs to its product line, but is curious about Activity Based Costing. There current cost management system already provides the following data: Estimated Cost Cost Driver Used to Estimated Overhead Allocate Overhead Cost for the Activity # of pounds/Unit Number of machine Driver Volume for Year 2 100,000 lbs Activity 1. Purchasing materials $200,000 2. Machine setups 400 setups s800,000 setups Hours of Inspection Machine hours 3. Inspections 4. Running machines Total estimated overhead $400,000 $600,000 $2,000,000 4000 hours 20,000 hours Data for January, Year 2 Direct labor Hours 2 hours/units Units 1,300 units Standard products. Unique products 2.5 hours/unit 400 units Unique Products 8,000 pounds 50 setups Standard Activities Products 8,000 pounds 15 setups 220 hours 1. Purchasing materials 2. Machine setups 3. Inspections 4. Running machines 400 hours 1,000 hours 2,000 hours Compute the costs per unit for both the Standard product and the Unique product using both the department overhead rate and the activity-based costing rates for January. Assume the direct materials cost are $100 and $200 per unit for Standard and Unique, respectively; and direct labor costs are $10 and $12 per hour, respectively. Round unit costs to the nearest dollar. Stanuaiu Standard Unique Traditional Costing per unit cost: ABC Costing per unit cost