PAPRTIH:(10marks) Q1 :(6marks) Columbia Corporation manufactures two products: Ticycles and W production and sales of Tricycles is 2,200 units, while 1,750 units of Wagons are produced and sold. The company has traditionally used direct labor hours to allocate its overhead to products. Tricycles require 2 direct labor hours per unit, while Wagors require 1.5 direct labor hours per unit. The total estimated overhead for the period is $385,125. The company is looking at the possibility of changing to an activity-based costing system for its products. If the company used an activity-based costing system,it would have the following three activity cost pools: gons. The annus Activity cost pool Setup costs Engineering costs Maintenance costs Total S 58,200 S 10800 316125 35 75 4 400 45 120 385,125 In addition, the following information has been collected: Direct material cost: Wagons: $25/Unit Tricycles: S20/Unit Direct labor cost: Tricycles: $20/Hour Wagons: $22/Hour Required: a. Calculate the unit cost for a Tricycles and Wagon using the traditional system based on a single plantwide overhead rate (use direct labor hours as the cost driver), b. Calculate the unit cost for a tricyc system. les and Wagon using the activity-based costing