Question 1 M/s. Gharib LLC produces five products, ACE, BEE, CEZ, DIV and EVA, all from the same material. Until now, it has used traditional absorption costing to allocate overheads to its products. The company is now considering an activity-based costing in the hope that it will improve profitability. Information for the three products for the last year is as follows The price for raw material remained constant throughout the year at RO 3.750 per Kg. Similarly, the direct labor costs for the who workforce was RO 23.250 per hour. The .annual overhead costs were as follows Required with appropriate formulas: Calculate the full cost per unit for products ACE, BEE, CEZ, DIV and EVA under traditional absorption, using direct labor hours as the basis for apportionment. Calculate the full cost per unit of each product using activity-based costing. Give your comments