Budget Tool Production Inc. is a medium-sized tool manufacturer, located in Houston, TX Budget manufactures small tools and tool sets. The company maintains a shared warehouse facility in South Houston, that stores the Inventory. The company has two divisions as follows: 1 Small Tools Division which has two main products (Wrenches and Screwdrivers) 2. Tool Set Division (which produces only one product-tool sets) The warehouse usage is 250,000 total square feet (with usage as follows): 1) The Small Tools division uses 150,000 square feet of the warehouse, as follows: a) Wrenches use 60,000 square feet b) Screwdrivers use 75,000 square feet c) The remaining 15,000 square feet is used by the Small Tools dlwision manager so it is not troceable to either product 2) The Tool Set division uses 100,000 square feet of the warehouse During 2020, the total cost of the warehouse facility was $30,000, of which $25,000 are traceable fixed costs. Additionally, Income and expense data for each division for the month of August follows. Description Tool Sets Sales Revenue Variable Cost of Goods Sold Fixed Cost of Goods Sold Variable Selling Expenses Small Tools Wrenches Screwdrivers $65,000 $35,000 $31,200 $16,800 $12,000 $8,000 $8,000 $10,000 $140,000 $56,000 $25,000 $13,000 Requirements 1. Calculate the cost per square foot for the warehouse facility and show the cost used by each division. Calculate the cost used by each product of the Small Tools Division 2. Prepare Income Statements_by division and by product for the month ended August 31, 2020