Hi-Tek Manufacturing, Incorporated, 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 Incorporated Income Statement Sales $ 1,651, 600 Cost of goods sold 1, 255, 071 Gross margin 396, 529 570,000 Selling and administrative expenses Net operating loss $ (173, 471) Hi-Tek produced and sold 60,400 units of B300 at a price of $19 per unit and 12,600 units of T500 at a price of $40 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 B300 $ 400, 700 $ 121,000 T500 $ 162, 600 $ 42, 300 Total $ 563,300 163, 300 528, 471 $ 1,255, 071 The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek's ABC implementation team concluded that $52,000 and $103,000 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: Flot Check my

Complete this question by entering your answers in the tabs below. Compute the product margins for 8300 and T500 under the activity-based costing system. Note: Negative product margins should be indicated by a minus sign. Round your intermediate calculations to 2 decimal places. Prepare a quantitative comparison of the traditional and activity-based cost assignments. Note: Round your intermediate calculations to 2 decimal places and "Percentage" answers to 1 decimal place and and other ans nearest whole dollar amounts. Required: 1. Compute the product margins for the 8300 and T500 under the company's traditional costing 5ystem. 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. Compute the product margins for the 8300 and 1500 under the company's traditional costing system. Note: Round your intermediate calculations to 2 decimal places ard final answers to the nearest whole dollar amount. Hi-Tek Manufacturing, Incorporated, 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 produced and sold 60,400 units of B300 at o price of $19 per unit and 12,600 units of T500 at a price of $40 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: The compary has created an activity based costing system to evaluate the profitability of is products. Hi-Tek's ABC implementation team concluded that $52.000 and $103,000 of the companys adveltiving expenses could be directly traced to B300 and T500, respectively. The rernainder of the seling and administrative expenses was organization-sustaining in noture. The ABC team also distributed the company's manufacturing overhead to four activities as shown below: Complete this question by entering your answers in the tabs below. Compute the product margins for the B300 and TS00 under the company's traditional costing system. Note: Round your intermediate calculations to 2 decmal places and final answers to the nearest whole dollar amount. Hi-Tek Manufacturing, Incorporated, 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 produced and sold 60,400 units of B300 at a price of $19 per unit and 12,600 units of T500 at a price of $40 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: The company has created an activity-based costing system to evaluate the proftability of its products. Hi-Tek's ABC impliomentation team concluded that $52,000 and $103,000 of the company's advetising 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