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Can you please assist? CoursHeroTranscribedText: Social Media, Inc. (SMIj has two services for users. Toot!, which connects tutors with students who are looking for tutoring

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CoursHeroTranscribedText: Social Media, Inc. (SMIj has two services for users. Toot!, which connects tutors with students who are looking for tutoring services, and TIX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! TIX Total User's 14,309 21,180 35,400 Revenues $1,909,090 $1,920, 090 $3, 820, 090 Engineering hours 9,850 7,850 17,780 Engineering cost $ 781, 625 $ 899, 875 $1, 681,590 Administrative costs $1, 345, 209 The company is considering using a two-stage cost allocation system and wants to assess the effects on reported product profits. The company is considering using Engineering Hours and Users as the allocation base. Additional Information follows. Toot! Tix Total Engineering hours 9,850 7,850 17,790 Users 14,300 21, 180 35,409 Engineering-hour related administrative cost $ 180,546 User-related administrative cost $1, 164, 660 Required: a. Compute the predetermined overhead rate used to apply the two administrative costs pools to the two services assuming SMI uses the proposed two-stage cost system to allocate administrative costs. b. Based on the rates computed In requirement (a), what Is the profit for each service

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