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Question 1 (Maximum Marks 15) ABC Itd manufactures televisions that are designed for use in sports bars. The Company has budgeted manufacturing overhead costs for the year as follows: Type of Cost Electric Power Inspection Total MOH Cost Pools Rs.12,50,00,000 Rs. 7,50,00.000 Rs 20,00,00.000 Under a traditional cost system, the company estimated the budgeted capacity for machine hours to be 40,000 hours. The company is considering changing to an activity based cost system. As a part of its consideration of the new costing system, the company developed the following estimates: Type of Cost Electric Power Inspection Activity-Based Cost Drivers 50.000 kilowatt hours (KWH) 10,000 inspections (INSP) The following information related to the production of 2000 units of Model #1003 was accumulated Direct Materials Cost Rs.25,00,000 Direct Labour Costs Rs. 37,50,000 Machine hours 10000 Direct Labour Hour 5000 Electric Power-Kilowatt hours | 20000 No. of Inspections 1000 8 Based on the above data, you are required to, a Calculate the total cost for the Model #1003 using traditional method of absorbing all manufacturing overheads on the basis of machine hours (5 Marks) b Calculate the total cost for the Model #1003 using activity based costing principles. (5 Marks) C If ABC were setting a selling price based on 20 percent markup, how would profit be affected if the company did not change to an ABC system? (5 Marks) 50