Please help im stuck on these questions!

Hi-Tek Manufacturing, Inc, makes two types of industrial component parts-the B300 and the T500 An absorption costing income statement for the most recent period is shown Hi-Tek Manufacturing Inc. Income Statement Sales $ 1,776,200 Cost of goods sold 1,251,822 Gross margin 524,378 Selling and administrative expenses 620,000 Net operating loss (95,622) Hi-Tek produced and sold 60,200 units of B300 at a price of $21 per unit and 12.800 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. Direct materials Direct labor Manufacturing overhead Cost of goods sold 8300 T500 Total $ 400,100 $ 162,700 S 562,800 $ 120,400 $ 42,300 162,700 526,322 $ 1,251,822 The company has created an activity based costing system to evaluate the profitability of its products Hi-Tek's ABC implementation team concluded that $55,000 and $101000 of the company's advertising expenses could be directly traced to 1300 and 1500, 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 B3D Total Machining (machine-hours) $ 205,422 91,000 62,300 153,3ee Setups (setup hours) 160,600 Product-sustaining (number of products) 100,000 Other (organization sustaining costs) 60,300 Total manufacturing Loverhead cost $ 526,322 T500 29e 75 1 NA 1 NA 365 2 NA Required: 1. Compute the product margins for the B300 and T500 under the company's traditional costing system, 2. Compute the product margins for B300 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: 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 whole dollar amount.) B300 T500 Total Product margin Required: 1. Compute the product margins for the B300 and 1500 under the company's traditional costing system 2. Compute the product margins for B300 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 B300 and T500 under the activity-based costing system. (Negative product margins should be indicated by a minus sign. Round your intermediate calculations to 2 decimal places.) B300 T500 Total Product margin Saved Prepare a quantitative comparison of the traditional and activity-based cost assignments. (Round your intermediate calculations to 2 de places and "Percentage" answers to 1 decimal place and and other answers to the nearest whole dollar amounts.) B300 T500 Total % of % of Amount Amount Amount Traditional Cost System % % % % % Total cost assigned to products Total cost Total B300 T500 % of Total Amount % of Total Amount Amount Amount Amount Activity-Based Costing System Direct costs: % RR 96 Indirect costs % % % % RRR % Total cost assigned to products Costs not assigned to products Total cost Prev 1 of 4 !!! Next >