1) A company manufactures two products, chairs and tables

1) A company manufactures two products, chairs and tables. Data regarding the two product is as follows:   Direct labor hours per unit   Annual production Chairs        0.5 Hours                               5,000 Units Tables    0.8 Hours                               4,000 Units Chairs require $40.00 in direct materials per unit and tables require $50 per unit. The direct labor wage rate is $30 per hour. The activity-based costing system has the following activity cost pools: Activity cost pool  Activity Measure Estimated overhead cost   Activity Machine set ups                   Number of set ups  $150,000                               1,000        1,500 Special processing  Machine hours $100,000                                  180           220 Compute the unit product cost for chairs rounded to the nearest cent. Compute the unit product cost for chairs rounded to the nearest cent.