chegg Crocus Company has created a new type of bicycle for active senior citizens. It comes in two modelsthe Gold and the Silver. Cost and production data are as follows: Gold SilverSelling price$629.99 $549.99Cost to produce 5,000 units of each model: Direct materials$700,000 500,000Direct labour 175,000 175,000Variable overhead 600,000 500,000Fixed overhead allocation 755,000 755,000Selling and administrative costs: Shipping costs per unit$10.99 $10.99Advertising budget allocated 200,000 150,000 Required