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Prepare a quantitative comparison of the traditional and activity-based cost assignments. (Round your intermediate calculations to 2 decimal places and m "Percentage" answers to 1 decimal place and and other answers to the nearest whole dollar amounts.)

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 $ 1,768,000 Cost of goods sold 1,249, 522 Gross margin 518, 478 Selling and administrative expenses 570,000 Net operating loss $ (51,522) Hi-Tek produced and sold 60,000 units of B300 at a price of $21 per unit and 12,700 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: 8300 T500 Total Direct materials $ 400,500 $ 162,900 $ 563,400 Direct labor $ 120,300 $ 42,300 162,600 Manufacturing overhead 523,522 Cost of goods sold $ 1,249,522 The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek's ABC Implementation team concluded that $60,000 and $101,000 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: 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 Manufacturing Overhead $ 211,002 150,920 101,000 60.600 $ 523,522 B300 90,600 73 1 NA Activity T500 62,300 270 1 NA Total 152,900 343 2 NA Required 1 Required 2 Required 3 Compute the product margins for the B300 and T500 under the company's traditional costing system. (Round your intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) T500 Product margin B300 942,516 $ Total 1,296,000 353,484 $ Required 1 Required 2 Required 3 Compute the product margins for B300 and T500 under the activity-based costing system. (Negative product margins should be indicated by a minus sign. Round your intermediate calculations to 2 decimal places.) B300 317,484 5 T500 154,516 $ Product margin Total 472,000 B300 T500 % of % of Total Amount Amount Amount Traditional Cost System Total cost assigned to products $ 0 $ 0 $ 0 Total cost $ 0 B300 T500 Total Amount % of Total Amount % of Total Amount Amount Amount Activity-Based Costing System Direct costs: Indirect costs: $ 0 $ 0 Total cost assigned to products Costs not assigned to products: $ 0 Total cost