Question 2 Bitu thinks of his education as a job and spends forty hours a week in class or studying. Bitu estimates he has about 80 hours per week to allocate between school and other activities and believes everyone should follow his 50-50 time allocation rule. His roommate, Kibuku, disagrees with Bitu and argues that allocating 50 per cent of one's time to class and studying is not a great formula because everyone has different activities and responsibilities. Kibuku points out, for example, that he has a job tutoring other students, is involved with student activities, and plays in a band, while Bitu spends some of his nonstudy time doing volunteer work and working out. Kibuku plans each week based on how many hours he will need for each activity: classes, studying and coursework, tutoring, and practising and performing with his band. In essence, he considers the details of each week's needs to budget his time. Kibuku explains to Bitu that being aware of the activities that consume his limited resources (time, in this example) helps him to better plan his week. He adds that individuals who have activities with lots of time commitments (class, work, study, exercise, family, friends, and so on) must be efficient with their time or risk doing poorly in one or more areas. Kibuku argues these individuals cannot simply assign a percentage of their time to each activity but should use each specific activity as the basis for allocating their time. Bitu insists that assigning a set percentage to everything is easy and the better method. Required: a) Applying your knowledge of Activity-based costing, discuss in detail how you resolve the debate between Bitu and Kibuku. (15 Marks) b) Discuss caveats associated with your proposed resolution in (a) above. (15 Marks)