MAKE OR BUY DECISION (4 MARKS) ABC Ltd incurred the following costs to manufacture 117,000 units of product X in 2019: Cost of material per unit is $15. The production department employs 8 employees, working 1,200 hours each per year. The hourly wages is $28 per hour. Fixed manufacturing overheads include utilities expenses of $260,000, rent expenses of $87,000, and depreciation expenses of $65,000. Fixed unavoidable administrative costs amount to $160,000. XYZ Ltd has offered to supply Product X for $22 per unit. An analysis of the overhead costs suggests that if Product X is outsourced, ABC Ltd would reduce fixed manufacturing costs by $137,000. In addition, the released production capacity can be leased to a third party, which will generate an additional profit of $184,000. IMPORTANT: - In answering the questions below, please don't include the dollar sign ($) or any thousands separator - i.e. $12,000 should be written as 12000. - Please don't include the (minus) sign in front of the amounts and also don't put the amounts in parentheses. REQUIRED: Calculate the total relevant costs for the make/buy decision. (4 marks) Relevant NET costs if make: $ Relevant NET costs if buy: $