2. Park Ltd, makes Mathematical calculators and Financial calculators and The controller has asked you to compare plantwide and activity-based cost allocation You have available the following information for the year ended 31 December 2016 operates at capacity. Forming Department Direct materials per unit Direct labour per unit Machining costs Inspection costs Machine-hours Inspection hours Mathematical Financial $3.00 $1.50 OH Cost 54.00 $1.40 32,000 $15,000 100 20 60 10 OH Cost Mathematical Financial $2.5 $2 Direct materials per unit Direct labour per unit $2.00 $1.8 Machining costs Inspection costs Machine-hours $28,000 $12,000 160 120 Inspection hours 25 15 Other information: Machining costs vary with the hours of machine processed in department. Inspection costs vary with Inspection hours in each department. Total units produced during the year: 50,000 mathematical calculators and 20,000 financial : calculators. Required: (1) Calculate the total cost and the cost per unit of Mathematical calculators and Financial calculators based on a single plantwide overhead rate, if total overhead is allocated based on direct labour costs. (2x4 marks-8 marks) (2) Calculate the allocation rate for each activity in each department, if the company allocates overhead costs in each department using activity-based costing. (4X2 marks-8marks) (3) Calculate the total cost and the cost per unit of Mathematical calculators and Financial calculators if the company allocates overhead costs in each department using activity-based ! costing. (2X4 marks -8marks)