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 (24%), skirts (37%), dresses (14%), and other (25%). Fleet Street has been using a volume-based rate to assign overhead to each product; the rate it uses is 2.92 per unit produced. The results for the trousers line, using the volume-based approach, are as follows: Number of units produced Price (all figures in ) Total revenue Direct materials Direct labor Overhead (volume-based) Total product cost Nonmanufacturing expenses Total cost Profit margin for trousers 10,000 34.16 341,600 56,200 187,600 29, 200 273,000 51, 100 324,100 17,500 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 Boxing up Storage 34,960 29,900 29, 100 33,500 22,200 10,000 5,400 10,800 Required: 1. Determine the profit margin for trousers using ABC