Liverpool Brass Company manufactures pumps and valves and uses a time-driven activity-based cost (TDABC) system. Last year, recorded the following data for assigning manufacturing overhead costs to its products:

Data table

	Unit Cost Estimates	Total Unit Time Estimates		Practical Capacity Not
	(Rates per Hour)	(Hours Assigned to Products)		Assigned to Products (Hours)
		Pumps	Valves
Machine setups and run time	$45 per machine hour	1,000	1,600	500
Labor for setups, receiving, and packing	$20 per labor hour	7,500	9,000	200
Engineering (for specializing products)	$50 per engineering hour	700	300	30

Data table

Total revenues	$900,000
Total direct labor cost	$150,000
Total direct materials cost	$50,000
SG and A expenses	$120,000

Requirements

(a)	Using the company's TDABC system, how much manufacturing overhead cost will be assigned to pumps? How much will be assigned to valves?
(b)	What is the company's net income? (Assume the company sells the entire amount of the products it produces.)

Requirement (a) Using the company's TDABC system, how much manufacturing overhead cost will be assigned to pumps? How much will be assigned to valves? The manufacturing overhead cost assigned to pumps will be $enter your response here and the manufacturing overhead cost assigned to valves will be $enter your response here.

Requirement (b) What is the company's net income? (Assume the company sells the entire amount of the products it produces.)

Total revenues

Cost of unused practical capacity

Net income