CoursHeroTranscribedText: Fleet Street Inc, a manufacturer of highfashion clothing for women, is located in South London in the UK. Its product line consists of trousers [32%], skirts {25%}, dresses [13%], and other [30%). Fleet Street has been using a volumebased rate to assign overhead to each product; the rate it uses is 252 per unit produced. The resuits for the trousers line, using the volume-based approach, are as follows: Number of units produced 12,666 Price (all 'Figures in E) 28.48 Total revenue 341,766 Direct materials 56,266 Direct labor 18?,666 Overhead (volumebased) 36,246 Total product cost 274,646 Nonmanufacturing expenses 51,166 Total cost 325,146 Profit margin for trousers 15,523 [ Recently, Fleet Street conducted a further analysis of the trousers line of product, using ABC. In the study, eight activities were identified, and direct labor was assigned to the activities. The total conversion cost {labor and overhead) for the eight activities, after allocation to the trousers line, is as follows: Pattern cutting 34,850 Grading 38,666 Lay planning 29,368 Sewing 33,460 Finishing 22, 569 I nspect ion 18, 660 Boxing up 5,466 Storage 18,860 Required: Determine the profit margin for trousers using ABC