Problem $4-12($Algo$)$ Contrasting ABC and Conventional Product Cost $[$LO$4-2,$ LO$4-3,$ LO$4-4]$

Precision Manufacturing Incorporated $($PMI$)$ makes two types of industrial component parts$-$the EX$300$ and the TX$500.$ It annually produces $61,000$ units of EX$300$ and $12,600$ units of TX$500.$ The company's conventional 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:

$\backslash$table$[[,$EX$300,$TX$500,$Total$],[$Direct materials,$$367,325,$$$163,550,$$$530,875$