Please do not give solution in image format thanku Complete this question by entering your answers in the tabs below.Req 1AUnit product costUsing the plantwide rate, compute the unit product cost for each product. (Round your intermediate calculations and finalanswers to 2 decimal places.)EX300 TX500Req 1AReq 1BMachiningSetupsProduct-levelGeneral factoryComplete this question by entering your answers in the tabs below.Activity Cost PoolsReq 1BReq 1AReq 2AUnit product costCompute the activity rate for each activity cost pool. (Round your Machining and General factory activity rates to 2 decimalplaces.)Req 1BReq 2B< Req 1AReq 2AEX300Activity Rateper MHRComplete this question by entering your answers in the tabs below.Req 2AReg 2Bper setup hr.per productper DLSTX500< Req 1BReq 2A >Req 2BUsing the activity rates, compute the unit product cost for each product. (Round your intermediate calculations and finalanswers to 2 decimal places.)< Req 2AReq 2B >Req 28 > Precision Manufacturing Inc. (PMI) makes two types of industrial component parts-the EX300 and the TX500. It annually produces66,000 units of EX300 and 13,100 units of TX500. The company's conventional cost system allocates manufacturing overhead toproducts using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to thecompany's two product lines is shown below:Direct materialsDirect laborThe company is considering implementing an activity-based costing system that distributes all of its manufacturing overhead to fouractivities as shown below:EX300TX500Total$372,325$168,550$540,875$126,000 $ 45,500 $171,500Activity Cost Pool(and Activity Measure)Machining (machine-hours)Setups (setup hours)Product-level (number of products)General factory (direct labor dollars)Total manufacturing overhead costReq 1AComplete this question by entering your answers in the tabs below.Req 1BReq 2AReq 2BManufacturingOverhead$ 201,875213,900141,60077,175$634,550Required: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.per DLSEX30096,0001051< Req 1A$126,000ActivityTX50065,5003601$45,500Total161,500Req 1B >4652Compute the plantwide overhead rate that would be used in the company's conventional cost system. (Round your answer to2 decimal places.)Predetermined overhead rate$171,500

The overhead is applied to the production on the basis of pre-determined overhead rate. The…

Direct materials Direct labor EX300 $372,325 $126,000 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) Total TX500 $168,550 $540,875 $ 45,500 $171,500 Machining (machine-hours) Setups (setup hours) Product-level (number of products) General factory (direct labor dollars) Total manufacturing overhead cost Manufacturing Overhead $ 201,875 213,900 141,600 77,175 $634,550 EX300 96,000 105 1 $126,000 Activity TX500 65,500 360 1 $45,500 Total 161,500 465 2 $171,500 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.