please complete all 4 requirements

Several years after reengineering its production process, King Corporation hired a new controller. Christine Erickson. She developed an ABC system very similar to the one used by King's chief rival. Part of the reason Erickson developed the ABC system was because King's profits had been declining even though the company had shifted its product mix toward the product that had appeared most profitable under the old system. Before adopting the new ABC system, King had used a plantwide overhead rate based on direct labor hours that was developed years ago. (Click the icon to view the overhead costs and budgeted data.) Read the requirements * Requirements 1. Compute the gross profit per Wheel if managers rely on the ABC unit cost data. 2. Compute the gross profit per Wheel if the managers rely on the plantwide allocation cost data Requirement 1. Compute the gross profit per wheel if managers rely on the ABC unit cost data. (Enter amounts to two decimal places.) Begin by computing the total manufacturing cost per wheel for each wheel model. King Corporation Data Table Total cost per unit using ABC data Standard Deluxe Manufacturing Overhead Costs per Unit Standard Deluxe ABC costs ................ 371.50 $ 516.50 Plantwide overhead rate ......$ 384.80 $ 503.20 Total manufacturing cost The following data are budgeted for the company's Standard Now compute the gross profit per wheel for each wheel model. and Deluxe models for next year: King Corporation Standard Deluxe Gross profit per unit using ABC data Sales price per wheel ........ 575.00 $ 735.00 Standard Deluxe Direct materials per wheel ....S 33.00 $ 46.75 Direct labor per wheel ....... 45.90 $ 54.00 3. Which product line is more profitable for the company? 4. Why might the controller have expected ABC to pass the cost-benefit test? Were there any warning signs that the company's old direct-labor-based allocation system was broken? Print Done Gross profit Print Done Requirement 2. Compute the gross profit per Wheel if the managers rely on the plantwide allocation cost data. Begin by computing the total manufacturing costs. (Enter amounts to two decimal places.) King Corporation Total cost per unit using plantwide overhead rate Standard Deluxe T + , suf Choose from any list or enter any number in the input fields and then continue to the next