Social Media, Inc. (SMI) has two services for users. Toot, which connects tutors with students who are looking for tutoring services, and TIX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! Tix Total Users 12,500 19,600 32,100 Revenues $1,750,000 $1,680,000 $3,430,000 Engineering hours 9,025 7,025 16,050 Engineering cost $ 642,875 $ 761,500 $1,404,375 Administrative costs $1,123,500 The company is considering using a two-stage cost allocation system and wants to assess the effects on reported product profits. The company is considering using Engineering Hours and Users as the allocation base. Additional information follows. Toot! Tix Engineering hours 19,600 Engineering-hour related administrative cost 7,025 9,025 12,500 Total 16,050 32,100 $ 154,080 $ 969,420 Users User-related administrative cost Required: a. Compute the predetermined overhead rate used to apply the two administrative costs pools to the two services assuming SM uses the proposed two-stage cost system to allocate administrative costs. b. Based on the rates computed in requirement (a), what is the profit for each service? Complete this question by entering your answers in the tabs below. Required A Required B Compute the predetermined overhead rate used to apply the two administrative costs pools to the two services assuming SMI uses the proposed two-stage cost system to allocate administrative costs. (Round your answers to 2 decimal places.) Predetermined Overhead Rate Engineering-hour related administrative cost por engineering hour User-related administrative cost per user Required Heged > Required: a. Compute the predetermined overhead rate used to apply the two administrative costs pools to the two services assuming SMl uses the proposed two-stage cost system to allocate administrative costs. b. Based on the rates computed in requirement (), what is the profit for each service? Complete this question by entering your answers in the tabs below. Required A Required B Based on the rates computed in requirement (a), what is the profit for each service? (Do not round Intermediate calculations.) Profit Service Toot! TIX