The library at Pacific Business School (PBS) serves both undergraduate and graduate programs. The dean of PBS is interested in evaluating the profitability of the degree programs and has asked the head of the library, Rex Gilmore, to allocate the annual library cost of $1,887,000 to the two programs Rex believes that two cost drivers explain most of the costs number of students and credit hours. Using Information from a previous analysis, he split the annual library budget as follows. 483,00 Ge1,000 $ 1,084, eee Costs driven by number of students Library management Acquisitions Costs driven by number of credit hours Computer support Building maintenance Library staff Utilities and supplies Total library costs $ 68,000 249,000 391,000 95,000 $ 80,000 $ 1,887,000 Data on students and credit hours Number of students Number of credit hours Undergraduate 518 10,920 Graduate 882 28,050 Required: a. Allocate the cost of the library to the two programs (undergraduate and graduate) Undergraduate Graduate Total Number of students Percentage (%) Credit hours Percentage (%) Allocation of student related costs Alocation of credit hour costs Total allocations 0 0 0 0 0 0 $ $ 05 0 $ 0