Gabriel Supermarkets (GS) operates at capacity and decides to apply ABC analysis to three product lines: baked goods, milk and fruit juice, and frozen foods. It identifies four activities and their activity cost rates as follows: (Click the icon to view the activity cost rates.) The revenues, cost of goods sold, store support costs, the activities that account for the store support costs, and activity-area usage of the three product lines are as follows: (Click the icon to view the information for the three product lines.) Requirements Data table 1. Use the simple costing system to prepare a product-line profitability report for GS. 2. Use the ABC system to prepare a product-line profitability report for GS. 3. What new insights does the ABC system in requirement 2 provide to GS managers? Requirement 1. Use the simple costing system to prepare a product-line profitability report for GS. (Round the percentages to the nearest hundredth percent, X Cost of goods sold Revenues Costs Cost of goods sold Store support Total costs Operating income Milk and Frozen $ Baked Goods 57,500 $ Fruit Juice Products Total 66,000 $ 53,000 38,000 11,400 47,000 35,000 14,100 10,500 Operating income/Revenues % % % % More info Baked Goods Milk and Fruit Juice Frozen Products Financial data Revenues 57,500 $ 66,000 $ 53,000 38,000 $ 47,000 $ 35,000 Store support 11,400 $ 14,100 $ 10,500 Activity-area usage (cost-allocation base) Ordering (purchase orders) Delivery (deliveries) Shelf-stocking (hours) Customer support (items sold) 30 25 13 98 36 28 183 166 24 15,500 20,500 7,900 Under its simple costing system, GS allocated support costs to products at the rate of 30% of cost of goods sold. Ordering $100 per purchase order Delivery and receipt of merchandise $80 per delivery Shelf-stocking $20 per hour Customer support and assistance S0.20 per item sold Print Done