QUESTIONS: You have been asked by Board of Directors of Marvelous Chocolates to prepare an analysis for the next Board meeting i, Summarise the data from the accounting records for each product for the year ended 31 December 2021. Include the total budgeted direct labour hours and total budgeted machine hours. ii. The production all range of chocolate bars include four (4) level of activities such as Fermentation, Grinding, Moulding and Packaging. Prepare the relevant costing statement to include all level of activities and show the gross profit for each product and budgeted operating profit/(loss) in total for the financial year ending 31 December 2022. What is your review on the budgeted operating profit/(loss)?W; Chocolates produce and sell various ranges of chocolate bars such as $13.33;; W WW Dark Nut We: WW has prnvided its accounting records and operational data for the year ended 3 1 December 2'32 1. The managerial accountant is preparing the budgeting and costing statement for the nancial year 2D22. WChocolates has provided its accounting records and operating data for the year ended 31 December 22 1 as follows: The production dep artment is assigned to achieve the production of 2yunits of ag}; W 35.0 units '3me and 15,0units of Dark Nut W. The selling price is RM12 for WW RMlS for WW and RMIB for Dark Nut W. Their budgeted sales to be achieved in the year 2022 are the same as the total production units. Total direct material cost per unit is EMS for WW RM? for WW and RM? for Dark Nut W. W; Chocolates includes budgeted direct labour hours of 1D.hours, 12hours and lSllhours respectively for WW Emit; W and Dark Nut W. Direct labour cost per unit is EMS per hour. The production of all ranges of chocolate bars also adopts machine hours as the cost driver. The machine hours for each product i_s 5,0hours for mm 4.hours for Emit; W and lilhours for Dark Nut W. The total budgeted manufacturing overhead is RMB?,5DD consisting of RM2D,DDD for depreciation on factory; RME for depreciation on machinery; RMl, for utilities; RMlS for supervision and RM12y5 for maintenance on machinery. The selling, general and administrative expenses include promotion and adverti sement for RMlEDD and administrative for RM2,DD. For the next financial year 2D22. Melons Chocolates has set its plan and business activities to include the introduction of new product which is Whitty Caramel W and enter into a new market segment together with the other three [3] products above. The following information will affect the consideration: I The planned annual production and sales will be the same at 2 5,units. I Selling price is RM ill]. I Direct material and direct labour cost will be the same as WW. I Eudgeted direct labour hours for 1'|.I"|.Fhitt:..ir Caramel Wig 2y. I Utilities and Supervision cost will increase by 30%. I All other costs 8:. expenses remain the same. I The budgeted manufacturing overhead fully adopts direct labour hours as the cost driver. iii. Summarise the additional data to reflect the introduction of Whitty Caramel Chocolat as stated above and calculate the pre-determined overhead rate (POHR). Please show the calculation of the new total budgeted direct labour hours and new total budgeted manufacturing overhead. iv. Based on the calculation in Question (iii), prepare the absorption costing statement to calculate the new gross profit for each product and new budgeted operation profit/(loss) in total for the financial year ending 31 December 2022. Analyse whether Marvelous Chocolates should introduce this new product