Required informationUse the following information for the Problems below. $($Algo$)$Skip to question$[$The following information applies to the questions displayed below.$]$Tent Master produces Pup tents and Pop$-$up tents. The company budgets $$360,000$ of overhead cost and $60,000$ direct labor hours. Additional information follows.Per UnitSelling PriceDirect MaterialsDirect LaborPup tent$ $85$$ $20$$ $47$Pop$-$up tent$802731$Problem $17-3$A $($Algo$)$ Using activity$-$based costing to allocate overhead cost, and compute overhead cost per unit and gross profit per unit LO P$3$ActivityBudgeted CostActivity Cost DriverBudgeted Activity UsageAssembly$ $240,000$Direct labor hours $($DLH$)60,000$Electricity$42,000$Machine hours $($MH$)10,000$Materials purchasing$78,000$Purchase orders $($PO$)500$Total$ $360,000$ Required:Compute an activity rate for each activity using activity$-$based costing.The following actual activity usage produced $10,000$ Pup tents and $7,500$ Pop$-$up tents. Allocate overhead cost to Pup tents and to Pop$-$up tents and compute overhead cost per unit for each product.Activity Cost DriverActivity UsagePup tentsPop$-$up tentsDirect labor hours$($DLH$)39,00021,000$Machine hours $($MH$)4,5005,500$Purchase orders$($PO$)200300$Compute product cost per unit for Pup tents and for Pop$-$up tents.For each product, compute the gross profit per unit $($selling price per unit minus the product cost per unit$).$