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 Ine. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss $ 1.642.900 1,231,695 411,205 550.000 $ (138,795) Hi-Tek produced and sold 60,400 units of B300 at a price of $19 per unit and 12,700 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: B300 $ 400,100 $ 120,800 T500 $ 162,600 $ 42,300 Direct materials Direct labor Manufacturing overhead Cost of goods sold Total $ 562,700 163.100 505,895 $1231,695 The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek's ABC Implementation team concluded that $55.000 and $104,000 of the company's advertising expenses could be directly traced to 8300 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 D300 T500 Total 90.500 61.000 153.500 Activity Cost Pool (and motivity Measure) Machining machine-houro) Setups (setup hours) Product-ustaining number of products) other organization-staining costa) Total manufacturing overhead coat Manufacturing Overhead $ 207, 225 138. 170 100.400 60, 100 505395 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 Overhead $ 207,225 138,170 100,400 300 500 90,500 63,000 250 Total 153,500 $ 505.895 erences 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 1 Required 2 Required 3 Compute the product marins for the 300 and T500 under the company's traditional costing system. (Round your