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 unit W 10 2 20 1 1 X 10 2 80 3 3 Y 100 5 20 1 1 Z 100 5 80 3 3 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