help please

Hi-Tek Manufacturing, Inc., makes two types of Industrial component parts-the B300 and the T500. An absorption costing Income statement for the most recent period is shown: HI-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss $ 1,635,200 1,221,130 414,070 548.000 5 (225,930) Hi-Tek produced and sold 60,200 units of B300 at a price of $19 per unit and 12,600 units of T500 at a price of $39 per unit. The company's traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional Information relating to the company's two product lines is shown below: Direct materials Direct Labor Manufacturing overhead Cost of goods sold Bee Tsee Total $ 400.000 $ 162,200 $ 562.200 $ 120,300 $42.78 163.000 495.930 $ 1.221.130 The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek's ABC implementation team concluded that $57.000 and $108.000 of the company's advertising expenses could be directly traced to B300 and T500. respectively. The remainder of the selling and administrative expenses was organization-sustaining in nature. The ABC team also distributed the company's manufacturing overhead to four activities as shown below: ALEVE Activity Cost Pool and Activity Measure Machining (machine-hours) Setups (setup hours) Product-sustaining (number of products) Other (organization sustaining costs) TOL manufacturing overtia cost Manufacturing Over 20.820 127.510 100.co G. $4953 300 se, 72 TULED 200 311 24 NA NA Required: 1. Compute the product margins for the 8300 and T500 under the company's tradition costing system 2. Compute the product margins for 300 and T500 under the activity-based costing system 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments Complete this question by entering your answers in the tabs below. $ 120,300 $ 42,700 Direct labor Manufacturing overhead Cost of goods sold 163,000 495,930 $ 1,221,130 The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek's ABC implementation team concluded that $57,000 and $108.000 of the company's advertising expenses could be directly traced to B300 and T500, respectively. The remainder of the selling and administrative expenses was organization-sustaining in nature. The ABC team also distributed the company's manufacturing overhead to four activities as shown below: Activity Cost Pool (and Activity Measure) Machining machine-hours) Setups (setup hours) Product -sustaining (number of products) Other (organization-sustaining costs) Total manufacturing overhead cost Manufacturing Overhead $ 206,820 127.510 100.600 61,000 $495.930 Activity B380 T500 Total 90,400 62,888 153,200 71 24e 311 1 1 2 NA NA NA Required: 1. Compute the product margins for the B300 and T500 under the company's traditional costing system 2. Compute the product margins for B300 and T500 under the activity-based costing system. 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments. Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Compute the product margins for the B300 and T500 under the company's traditional coating system. (Round your intermediate calculations to 2 decimal places and final answers to the nearest Whole doar amount B300 T500 Total Product margin 5 o Required 23 $ 120,380 $ 42,700 Direct labor Manufacturing overhead Cost of goods sold 163,000 495,930 $ 1,221, 130 The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek's ABC Implementation team concluded that $57,000 and $108,000 of the company's advertising expenses could be directly traced to B300 and T500. respectively. The remainder of the selling and administrative expenses was organization-sustaining in nature. The ABC team also distributed the company's manufacturing overhead to four activities as shown below. Activity Cost Pool (and Activity Measure) Machining (machine-hours) Setups (setup hours) Product-sustaining (number of products) Other (organization-sustaining costs) Total manufacturing overhead cost Manufacturing Overhead $ 206,820 127.510 100,600 61.000 $ 495,930 Activity 8300 T500 90, 480 62,see 71 240 1 NA NA Total 153,200 311 2. NA 1 Required: 1. Compute the product margins for the B300 and T500 under the company's traditional costing system 2. Compute the product margins for B300 and T500 under the activity-based costing system. 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments. Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Compute the product margins for B300 and T500 under the activity-based costing system. (Negative product margins should be indicated by a minus sign. Round your intermediate calculations to 2 decimal places.) B300 T500 Total Product margin $ Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a quantitative comparison of the traditional and activity-based cost assignments. (Round your intermediate calculations to 2 decimal places and "Percentage" answers to 1 decimal place and and other answers to the nearest whole dollar amounts.) B300 T500 Total % of % of Amount Amount Amount Traditional Cost System Direct materials Direct labor Manufacturing overhead Total cost assigned to products % % $ 0 $ $ 0 Total cost $ 0 Total B300 96 of Total Amount T500 % of Total Amount Amount Amount Amount Activity-Based Costing System Direct costs Direct materials Direct labor 's 6 Indirect costs Machining Setups Product sustaining Total cost assigned to products Costs not assigned to products: Selling and administrative Other Total cost $ 5 $