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 Price (all figures in ) Total revenue Direct materials Direct labor Overhead (volume-based) Total product cost Nonmanufacturing expenses Total cost Profit margin for trousers 15,000 27.02 405,300 66, 700 222,600 35,550 324.850 60.600 385,450 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 Boxing up Storage 39,100 33, 700 32,800 37,400 25, 200 11,100 6,000 12,000 Required: 1. Determine the profit margin for trousers using ABC. Profit margin