Please provide answers and explaination if possible.

Hi-Tek Manufacturing Incorporated Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss $ 1,751,489 1,251,146 500,254 590,000 $ (89,746) Hi-Tek produced and sold 60.000 units of B300 at a price of $21 per unit and 12,600 units of T500 at a price of $39 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 bose. Additional information relating to the company's two product lines is shown below 8300 T500 Total Direct materials $ 400,200 $ 163,000 $ 563,200 Direct labor $ 120,000 $ 42,500 162,500 Manufacturing overhead 525,446 Cost of goods sold $ 1,251,146 The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek's ABC implementation team concluded that $57,000 and $108,000 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 hours) $ 210,726 90,500 62,200 152,700 Setups (setup hours) 153, 120 270 Product Sustaining (number of products) 101,000 1 2 Other (organization sustaining costs) 60.600 NA Total manufacturing overhead cost $ 525,446 Required: 1. Compute the product margins for the 8300 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 ossignments 3300 78 348 1 NA Complete this question by entering your answers in the tabs below. Required Required 2 Required Compute the product margins for the B300 and T500 under the company's traditional costing system. (Round your Intermediate calculations to 2 dedmal places and final answers to the nearest whole dollar amount.) 3300 T500 Total Product margin Required 2 >