Precision Manufacturing Incorporated (PMI) makes two types of industrial component partsthe EX300 and the TX500. It...

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Precision Manufacturing Incorporated (PMI) makes two types of industrial component partsthe EX300 and the TX500. It annually produces 56,000 units of EX300 and 12,100 units of TX500. The company's conventional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company's two product lines is shown below: Direct materials Direct labor EX300 $ 362,325 $ 116,000 Total $520,875 TX500 $ 158,550 $ 40,500 $ 156,500 The company is considering implementing an activity-based costing system that distributes all of its manufacturing overhead to four activities as shown below: Activity Cost Pool (and Activity Measure) Machining (machine-hours) Setups (setup hours) Manufacturing Overhead $ 219,750 Product-level (number of products) 113,400 54,970 EX300 86,000 55 Activity TX500 60,500 260 Total 146,500 1 1 315 2 General factory (direct labor dollars) 50,080 $ 116,000 $ 40,500 $ 156,500 Total manufacturing overhead cost $ 438,200 Required: 1-a. Compute the plantwide overhead rate that would be used in the company's conventional cost system. 1-b. Using the plantwide rate, compute the unit product cost for each product. 2-a. Compute the activity rate for each activity cost pool. 2-b. Using the activity rates, compute the unit product cost for each product. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B Compute the plantwide overhead rate that would be used in the company's conventional cost system. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLS < Req 1A Req 1B > Precision Manufacturing Incorporated (PMI) makes two types of industrial component partsthe EX300 and the TX500. It annually produces 56,000 units of EX300 and 12,100 units of TX500. The company's conventional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company's two product lines is shown below: Direct materials Direct labor EX300 $ 362,325 $ 116,000 Total $520,875 TX500 $ 158,550 $ 40,500 $ 156,500 The company is considering implementing an activity-based costing system that distributes all of its manufacturing overhead to four activities as shown below: Activity Cost Pool (and Activity Measure) Machining (machine-hours) Setups (setup hours) Manufacturing Overhead $ 219,750 Product-level (number of products) 113,400 54,970 EX300 86,000 55 Activity TX500 60,500 260 Total 146,500 1 1 315 2 General factory (direct labor dollars) 50,080 $ 116,000 $ 40,500 $ 156,500 Total manufacturing overhead cost $ 438,200 Required: 1-a. Compute the plantwide overhead rate that would be used in the company's conventional cost system. 1-b. Using the plantwide rate, compute the unit product cost for each product. 2-a. Compute the activity rate for each activity cost pool. 2-b. Using the activity rates, compute the unit product cost for each product. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B Compute the plantwide overhead rate that would be used in the company's conventional cost system. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLS < Req 1A Req 1B >