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Rosehut Olive Oil Company makes two grades of olive oil standard and extra virgin. Rosehut has identified two activity cost pools, the related costs per poolthe cost driver for each pool, and the expected usage for each pool Total Activity Activity Cost Cost Driver Standard Extra Virgin Masking, Pressing & Filtering (WPF) $1,590,250 Washing, Pressing and Filtering hours 45.600 hours 105,00 hours Hot line $ 535,500 Number of bottles 106,000 bottles 76,500 bottles Additional information about each grade of olive oil is as follows: Grado Standard Extra virgin Sales Revenue $5,115,000 $2,250,000 Direct Materials Cost $900.000 5000, Direct Labor Costs $375,000 $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product. 4. Calculate the gross profit for each product. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the activity rate for each cost pool. (Round your answers to 2 decimal places.) Activity Washing, Pressing & Filtering (WPF) Bottling $ $ Cost Pool 10.50 per hour 0.14 per bottle Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Using the activity rates, determine the total amount of overhead assigned to each product. (Round activity rates to 2 decimal places.) Activity Standard Overhead Activity for Standard assigned to Standard Activity Rate Extra Virgin Overhead Activity for Extra Virgin assigned to Extra Virgin WPF Bottling Total $ 0 $ 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine total manufacturing cost for each product. Standard Extra Virgin Direct Materials Direct Labor ABC Overhead Total manufacturing costs $ 0 $ 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the gross profit for each product. Standard Extra Virgin Revenue Cost of goods sold Gross Profit $ 0 $ 0

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