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 (35%), skirts (40%), dresses (15%), and other (10%). Fleet Street has been using a volume-based rate to assign overhead to each product; the rate it uses is 2.45 per unit produced. The results for the trousers line, using the volume-based approach, are as follows: Number of units produced Total revenue 12,000 Price (all figures in ) 27.44 329,280 Direct materials 54,100 Direct labor 180,700 Overhead (volume-based) 29,400 Total product cost 264,200 Nonmanufacturing expenses 49,300 Total cost 313,500 Profit margin for trousers 15,780 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 Required: 37,310 31,900 31,000 35,600 23,700 10,600 5,700 11,400 1. Determine the profit margin for trousers using ABC. Profit margin