12-18 Activity-based budgeting. The Georgetown store of Jiffy Mart, a chain of small neighborhood convenience stores, is preparing its activity-based budget for January 2013. Jiffy Mart has three product categories: soft drinks (35\% of cost of goods sold [COGS]), fresh snacks (25\% of COGS) , and packaged food ( 40% of COGS). The following table shows the four activities that consume indirect resources at the Georgetown store, the cost drivers and their rates, and the cost-driver amount budgeted to be consumed by each activity in January 2013. 1. What is the total budgeted indirect cost at the Georgetown store in January 2013 ? What is the total budgeted cost of each activity at the Georgetown store for January 2013? What is the budgeted indirect cost of each product category for January 2013 ? 2. Which product category has the largest fraction of total budgeted indirect costs? 3. Given your answer in requirement 2, what advantage does Jiffy Mart gain by using an activity-based approach to budgeting over, say, allocating indirect costs to products based on cost of goods sold