In addition to the unit indirect manufacturing costs, the following data are expected for the company's standard and deluxe models for Edmund Company manufactures wheel rims. The company produces two wheel rim models: standard and deluxe. For 2019, Edmund's managers have decided to use the same indirect manufacturing costs per wheel rim that they computed in 2018 using activity-based costing m (Click the icon to view the 2018 indirect manufacturing costs per wheel rim.) 2019: m(Click the icon to view the expected information.) Because of limited machine hour capacity, Edmund can produce oither 2.000 standard rims or 2.000 deluxe rims. Read the reavirementa. Requirement 1. If Edmund's managers rely on the ABC unit cost data computed in 2018, which model will they produce? Carry each cost to the nearest cent. (Ignore selling and administrative expenses for this calculation.) Use the ABC unit cost data to compute the gross profit per unit for each model. ABC Data Gross Profits O Data Table Standard Deluxe Sales price Standard Deluxe Direct materials Sales price $ 800.00 $1,040.00 31.00 Direct labor Direct materials 47.00 Indirect manufacturing costs Direct labor 45.00 54.00 Gross profit per unit Print Done Edmund's managers will produce 2000 units of the V model to maximize income. Requirement 2. If the managers rely on the single plantwide overhead allocation rate cost data, which model will they produce? Use the single plantwide allocation rate cost data to compute the gross profit per unit for each model. (Round amounts to the nearest cent, SX.XX) O Data Table Single-Allocation-Base Data Gross Profits Standard Deluxe Indirect Manufacturing Cost Per Unit Standard Deluxe $ 285.00 S 693.00 $ 391.20 S 588.80 Sales price Direct materials ABC costs Direct labor Single-rate costs Indirect manufacturing costs Print Done Gross profit per unit If they rely on the single plantwide allocation rate cost data, Edmund's managers will produce the V model. It will appear to maximize income. Requirement 3. Which course of action will yield more income for Edmund? Edmund will earn more income by producing the model. V data are generally more accurate than v data.