Exercise 7-13 (Algo) Computing ABC Product Costs [LO7-3, L07-4) Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor-Hours per Unit Annual Production Hubs 0.60 19,000 units Sprockets 0.20 60,000 units Additional information about the company follows: a. Hubs require $40 in direct materials per unit, and Sprockets require $11. b. The direct labor wage rate is $19 per hour. c. Hubs require special equipment and are more complex to manufacture than Sprockets. d. The ABC system has the following activity cost pools: Activity Sprockets 92 3.9 Estimated Overhead Activity Cost Pool (Activity Measure) Cost Hubs Machine setups (number of setups) $ 24,840 115 Special processing (machine-hours) $ 196,000 4,900 General factory (organization-sustaining) $ 119,400 NA Required: 1. Compute the activity rate for each activity cost pool. 2. Determine the unit product cost of each product according to the ABC system Total 207 4,900 NA 115 4,900 NA 92 0 NA 207 4,900 NA Machine setups (number of setups) $ 24,840 Special processing machine-hours) $ 196,000 General factory (organization-sustaining) $ 119,400 Required: Compute the activity rate for each activity cost pool. 2. Determine the unit product cost of each product according to the ABC system Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the unit product cost of each product according to the ABC system. (Do not round interthediate calculations. Round your answers to 2 decimal places.) Hubs Sprockets Direct $ 40.00 11.00 materials Direct labor 24.00 2.20 Overhead Unit cost 64.00 $ 13.20