15) Coco It Corporation manufactures two models of grooming stations a standard and a deluxe model. The following activity and cost information las been compiled Number of Number of Number of Product Components Direct Labor Hours Standard 650 De 7 150 Overhead conte Assume a traditional conting system applies the 8,000 of owerhead cons based on direct Labor hour What is the total amount of overhead cons assigned to the standard modell What is the total amount of overhead consigned to the deluxe model! Assume an activity-based costing system is used and that the number of setups and the number of components are identified as the activity-cost drivers for overhead. What is the total amount of overhead coats assigned to the standard model! What is the total amount of overhead counts assigned to the deluxe merker Explain the difference between the costs obtained from the traditional costing system and the ABC system. Which system provides a better estimate of cost? Why? Direct material Direct labour totally produced Standard model $15/unit $20/dlh 800 units De Luxe model $15,000 (all) $30/dlh 500 units Calculate the full costs of both models under traditional and ABC system Determine the selling price for the De Luxe model, if profit margin on selling price (markup on sales) is 25% for Traditional and ABC costing. Compare and comment. Exercise 2 Roiann and Dennett Law Office employs 12 full-time attorneys and 10 paraprofessionals. Direct and indirect costs are applied on a professional labor-hour basis that includes both attorney and paraprofessional hours. Following is information for 2020: Budget Actual Indirect costs $270,000 $300,000 Annual salary of each attorney $100,000 $110,000 Annual salary of each paraprofessional $ 29,000 $ 30,000 Total professional labor-hours 50,000 dlh 60,000 dih 1. What are the actual direct-cost rate and the actual indirect- cost rate, respectively, per professional labor-hour? 2. How much should the client be billed in an actual costing system if 200 professional labor-hours are used? 3. How much should the client be billed in an normal costing system if 200 professional labor-hours are used