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35 points eBook Hint Prlnl References Hi-Tek Manufacturing, Inc., makes two types of industrial component partsthe B300 and the T500. An absorption costing income statement for the most recent period is shown: Hi-'l'ek Hanuinoturing Inc. Income Statement Sales $ 1,644,000 Cost of goods sold 1,216,013 Gross margin 428,72? Selling and administrative expenses 620,000 Net operating loss $ (191,273) Hi-Tek produced and sold 60,500 units of 3300 at a price of $19 per unit and 12,700 units of T500 at a price of $39 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: 3300 T500 Total Direct materials 5 400,400 $ 162 ,600 $ 563,000 Direct labor 5 120,400 $ 42,100 162,500 Manufacturing overhead 490,573 Cost of goods sold 3 1,216,013 The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek's ABC implementation team concluded that $55,000 and $103,000 of the company's advertising expenses could be directly traced to 5300 and T500, respectively. The remainder of the selling and administrative expenses was organization- n.-. . a _.2 4 !!! ll-..l. sustaining in nature. The ABC team also distributed the company's manufacturing overhead to four activities as shown below: Manufacturing Activity Activity Cost Pool (and Activity Measure) Overhead B300 T500 Total 35 Machining (machine-hours) $ 203, 623 90 , 100 63,000 153, 100 points Setups ( setup hours) 125 , 050 75 230 305 Product-sustaining (number of products) 101, 800 1 1 2 Other (organization-sustaining costs) 60 , 100 NA NA NA Total manufacturing overhead cost $ 490,573 eBook Hint Required: Print 1. Compute the product margins for the B300 and T500 under the company's traditional costing system. References 2. Compute the product margins for B300 and T500 under the activity-based costing system. 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the product margins for the B300 and T500 under the company's traditional costing system. (Round your intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) Rann T500 TotalRequired: 1. Compute the product margins for the B300 and T500 under the company's traditional costing system. 35 2. Compute the product margins for B300 and T500 under the activity-based costing system. points 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments. eBook Complete this question by entering your answers in the tabs below. Hint Print Required 1 Required 2 Required 3 References Compute the product margins for the B300 and T500 under the company's traditional costing system. (Round your intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) B300 T500 Total Product margin $ 0 Required: 1. Compute the product margins for the B300 and T500 under the company's traditional costing system. 35 2. Compute the product margins for B300 and T500 under the activity-based costing system. points 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments. eBook Complete this question by entering your answers in the tabs below. Hint Print Required 1 Required 2 Required 3 References Compute the product margins for B300 and T500 under the activity-based costing system. (Negative product margins should be indicated by a minus sign. Round your intermediate calculations to 2 decimal places.) B300 T500 Total Product margin $ Required: 1. Compute the product margins for the B300 and T500 under the company's traditional costing system. 2. Compute the product margins for B300 and T500 under the activity-based costing system. 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments. 35 points Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Required 3 Hint Print Prepare a quantitative comparison of the traditional and activity-based cost assignments. (Round your intermediate calculation places and "Percentage" answers to 1 decimal place and and other answers to the nearest whole dollar amounts.) References B300 T500 Total % of % of Amount Amount Amount Traditional Cost System Total cost assigned to products $ 0 $ 0 $ Tatal sant nTotal cost $ B300 T500 Total % of % of 35 Amount Total Amount Amount Total Amount Amount points Activity-Based Costing System Direct costs: eBook %% %% Hint Print Indirect costs: References % % Total cost assigned to products $ 0 $ 0 Costs not assigned to products: Total cost $