Please complete sections 1-3 clearly. Thank you

Hi-Tek Manufacturing, Inc., makes two types of industrial component parts-the 8300 and the 1500. An absorption costing income statement for the most recent period is shown Hi-Tek Manufacturing Inc. Income /Status Salem 1-778, 500 cant of goods hold 1,225,040 Gross margin 550, 460 Calling and administrative expenses Net operating loan (26, 540) HI-Tek produced and sold 60,500 units of 8300 at a price of $21 per unit and 12,700 units of T500 at a price of $40 per unit. The company's traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company's two product lines is shown below: Total Direct materials 40 0, 800 8 163,200 563, 700 Direct labor 121, 000 0 42, 408 163,400 Manufacturing overhead 497,940 Cost of goods sold $ 1,225,040 The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek's ABC implementation team concluded that $53,000 and $103,000 of the company's advertising expenses could be directly traced to 8300 and T500, respectively. The remainder of the selling and administrative expenses was organization-sustaining in nature, The ABC team also distributed the company's manufacturing overhead to four activities as shown below: Manufacturing Activity Activity Cost Pool (and Activity Measure] Overhead T500 Total Machining (machine-he 211, 140 90, 600 62,400 151.000 Betupa Iaatup hours | 124, 760 70 120 Product-sustaining [number of products) 101,200 Other (organization-sustaining costs) 60. 900 Total manufacturing overhead cont $ 497, 940 Required: Compute the product margins for the B300 and T500 under the company's traditional costing system. 2. Compute the product margins for 8300 and T500 under the activity-based costing system. 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 compute the product margins for the B300 and T500 under the company's traditional costing system. (Round your intermediate calculations to 2 decimal places and final answers to the nearest ahole dollar amount.) B300 T500 Product margin Required 2 > Required 2 Required 3 Prepare a quantitative comparison of the trackionalland activity-based cost ass gnon cost assignments |Round your intermediate calculations to 2 decimal places and "Percentage" answers to 1 decimal place and and other answers to the nearest whole dollar amounts.]