Answer ALL questions. 1. Roundup Corp's cost of goods sold for the year totaled $259,000. Beginning and ending finished-goods inventories were $47,000 and $36,000, respectively. Roundup's sales revenue for the year was $488,000 and its operating expenses were $110,000. Required: What is the cost of goods manufactured (COGM)? (2 marks) 2. Dartmouth Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost information has been compiled: Product No. of Setups No. of Components Direct Labour Hours Standard 18 9 275 Deluxe 32 14 215 Setup Costs Component Costs Overhead costs $75,000 $87,400 Required: Number of setups and number of components are identified as activity-cost drivers for the respective overhead costs. Assuming an activity-based costing system is used, what is the total Setup costs assigned to the standard model? (2 marks)