Suppose that Cooplan Ltd manufactures four products, W$,$X$,$Y and Z $.$Output and cost data for the period just ended are as follows.Products Output$($unit$)$ Number of production Materialcost DirectLaour Machine hours runs in theperiod per unit $($$$)$ hoursper unit per unitW $1022011$X $1028033$Y $10052011$Z $10058033$Direct labour cost per hour is $$5$Overhead costs are as follows. $Short$-$run variablecosts $3,080$Set$-$Upcosts $10,920$Production $9,100$Materials handlingcosts $7,700$Required: Calculate product costs using the followingapproaches. $($a$)$ Absorption Costing $($b$)$ ABC