Maclin Supermarkets (MS) operates at capacity and decides to apply ABC analysis to three product lines: baked goods, milk and fruit juice, and frozen fcods. 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, activities that account for the store support costs, and activity-area usage of the three product ines are as follows: ?(Click the icon to view the information for the three product lines.) Requirements 1. Use the simple costing system to prepare a product-line profitability report for MS 2. Use the ABC system to prepare a product-line profitability report for MS. 3. What new insights does the ABC system in requirement 2 provide to MS managers? Requirement 1, Use the simple costing system to prepare a product-line profitability report for Ms. Round the percentages to the nearest hundredth percent, X XX% Milk and Frozen Baked Goods Fruit Juice Products Total Revenues Costs Cost of goods sold Store support Total costs Operating income Operating income/Revenues