Fleet Street Incorporated a manufacturer of high-fashion clothing for women, is located in South London in the UK. Its product line consists of trousers (30%), skirts (29%), dresses (14%), and other (27%). Fleet Street has been using a volume-based rate to assign overhead to each product; the rate it uses is 2.37 per unit produced. The results for the trousers line, using the volume-based approach, are as follows: Number of units produced 15,000 27.02 Price (all figures in ) Total revenue 405,300 Direct materials 66,700 Direct labor 222,600 Overhead (volume-based) 35,550 Total product cost 324,850 Nonmanufacturing expenses 60,600 Total cost 385,450 Profit margin for trousers 19,850 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 Grading Lay planning Sewing Finishing Inspection 39,100 33,700 32,800 37,400 25,200 11,100 6,000 12,000 Boxing up Storage Required: 1. Determine the profit margin for trousers using ABC. Profit margin