Ole Company manufactures two products, Product A and Product B. Currently, machine hours are used to allocate the overhead costs to the two products. Ole Company is considering adopting an activity-based costing system. If so, overhead costs will be traced to the following activities: $300,000 $200,000 $400,000 30,000 2,000 20,000 __ 6,000 (a) (b) (C) (d) Calculate the total overhead cost assigned to Product A under the current system. (4 marks) Calculate the total overhead cost for Product A if the company implements activity-based costing system. (4 marks) Briey explain which costing method gives a more accurate picture of the costs. (4 marks) Suppose you are the management ac00untant in a university. List any three (3) activities commonly carried out in universities and identify an appropriate cost driver for each activity