Question 5 Fantasy Sdn Bhd manufactures two models of widgets, a standard and a deluxe model. The following activity and cost information has been compiled: Number of Number of Number of Product Setups Components Direct Labor Hours Standard 3 30 650 Deluxe 7 50 150 Overhead costs RM40,000 RM120,000 Assume a traditional costing system applies the RM160,000 of overhead costs based on direct labor hours. Required (a) Calculate the total amount of overhead costs assigned to the standard model. [2 marks] (b) Calculate the total amount of overhead costs assigned to the deluxe model. [2 marks] Assume an activity-based costing system is used and that the number of setups and the number of components are identified as the activity-cost drivers for overhead. Required (c) Calculate the total amount of overhead costs assigned to the standard model. [10 marks) (d) Calculate the total amount of overhead costs assigned to the deluxe model [2 marks] (e) Explain the difference between the costs obtained from the traditional costing system and the ABC system, (4 marks]