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Question 4 (12 marks) (24 minutes) Alanis Mor is set to analyze her costs for the year. She is the accountant in charge of product costing. She has recently received calls from the marketing department enquiring about the accuracy of product costing, because the company has recently raised prices of one of their product the without any response from competitors. Similarly, their other product has been under severe price competition by competitors and management is wondering if they can maintain their leadership role with regard to product position. Alanis, gathered the following information to help in her analysis: Total manufacturing overhead for the year was budgeted at $5,525,000. Manufacturing overhead is charged on the basis of machine hours. The company only manufactures two products per year. X214 JA21 Direct Costs $15.50 $17.25 Machine hours worked 30,000 120,000 Direct Labour hours worked 25,000 25,000 Machine set-ups 700 300 Units produced 60,000 200,000 Required: a) Compute the unit cost of X214 and JA21, using the current cost allocation method. (4 marks) b) Alanis decided to look into the activity based costing she heard about at a conference. Upon analysis, the following additional information was acquired: Manufacturing overhead consisted of the following cost pools: Item or Category Cost Driver Dollar Value Machine Related Costs Machine Hours $1,650,000 Labour Related Costs Direct Labour Hours $2,550,000 Machine Setups Machine Setups $1,325,000 Total $5,525,000 Compute the unit cost of X214 and JA21, using activity based costing. (8 marks)