Check my work Hi-Tek Manufacturing, Inc., makes two types of industrial component parts--the B300 and the T500. An absorption costing income statement for the most recent period is shown: Hi-Tek Manufacturing Ine. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss $ 1,714,000 1,248,216 465,784 580,000 $ (114,216) Hi-Tek produced and sold 60,100 units of B300 at a price of $20 per unit and 12,800 units of T500 at a price of $40 per unit. The company's traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company's two product lines is shown below: B300 $ 400, 600 $ 120,300 T500 $ 162,800 $ 42,900 Direct materials Direct labor Manufacturing overhead Cost of goods sold Total $ 563, 400 163,200 521,616 $ 1,248,216 The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek's ABC implementation team concluded that $57,000 and $107,000 of the company's advertising expenses could be directly traced to B300 and T500, respectively. The remainder of the selling and administrative expenses was organization-sustaining in nature. The ABC team also distributed the company's manufacturing overhead to four activities as shown below: BR Prepare a quantitative comparison of the traditional and activity-based cost assignments. (Round your intermediate calculations places and "Percentage" answers to 1 decimal place and and other answers to the nearest whole dollar amounts.) B300 T500 Total % of % of Amount Amount Amount Traditional Cost System % % % % % % Total cost assigned to products $ D S 0 $ 0 Total cost S 0 B300 T500 Total % of % of Total Amount Amount Total Amount Amount Amount Activity-Based Costing System Direct costs % % % % % % Indirect costs: % % % % % % $ 0 $ 0 D Total cost assigned to products Costs not assigned to products: Pro SA % % % % % Total cost assigned to products $ D S 0 $ 0 Total cost $ 0 B300 T500 Total % of % of Total Amount Amount Amount Total Amount Amount Activity-Based Costing System Direct costs: % % % % %% Indirect costs 5 % % % % % $ 0 S D Total cost assigned to products Costs not assigned to products: 0 Total cost $ 0