Please be as detailed as possible in answering the highlighted questions. Thank in you advance.

Commonwealth Devices makes three wearable fitness devices at its Lake Plant: CFIt-1, CFIt-2, and CFIt-Xtra. The company has for many years allocated overhead to products using machine-hours. Last year, the Lake Plant produced and shipped 8,360 units of CFit-1, 15,080 units of CFIt-2, and 8,360 units of CFIt-Xtra. The plant recorded the following revenues and costs: The Lake Plant has put together an employee team to recommend a possible activity-based cost system, Including cost allocation bases. The employee team recommends the following: The employee team further recommends that administration costs not be allocated to products. Required: a. Using machine-hours to allocate overhead, complete the Income statement for the Lake Plant. Do not allocate administrative costs to products. b-1. Compute the cost driver rates. b-2. Complete the Income statement using the activity-based costing method suggested by the employee team. Complete this question by entering your answers in the tabs below. Using machine-hours to allocate overhead, complete the income statement for the Lake Plant. Do not allocate administrative costs to products. Note: Do not round your intermediate calculations. Input all amounts as positive values. Complete this question by entering your answers in the tabs below. Compute the cost driver rates. Note: Round "Material handling", "Machining", and "Shipping" answers to two decimal places. Complete the income statement using the activity-based costing method suggested by the employee team. Note: Do not round your intermediate calculations. Input all amounts as positive values