Seats On Chairs (SOC) manufactures funky chairs. SOC has identified various activity centers to which overhead costs are assigned. The cost pools for these centers and their selected cost drivers for 2011 are as follows: Activity Centers (Cost Driver) Cost Pools Utilities (machine hours) $278,000 Scheduling and set-up (# of setups) $260,000 Materials handling (# of pounds of materials) $640,000 Total overhead $1,178,000 SOC's products and other operating statistics follow: Products Yak Chair Metaz Chair Latko Chair Direct material & labor costs $80,000 $90,000 $80,000 30,000 10,000 Machine hours 20,000 Number of set-ups 130 380 270 500,000 300,000 Pounds of materials 800,000 40,000 20,000 Number of units produced 60,000 40.000 20,000 Direct labour hours 60,000 Prior to installing an ABC system, Seats on Chairs (SOC) had been pricing its products on the basis of traditional costing using direct labour hours to allocate total overhead. Instructions 1. Determine unit product costs using traditional costing, using direct labour hours as the driver. Show total product cost breakdown (6 points) 2. Determine unit product costs using the ABC method, using