This question has two parts, Part A and B. You are required to answer both parts. Part A The following data were taken from the accounting records of Clear Vision Ltd. 20X1 20x0 Sales $800,000 $600,000 Cost of goods sold 400,000 240,000 Other expenses 160,000 120,000 Net profit $240,000 $240.000 Use vertical analysis to prepare a comparative statement of comprehensive income for Clear Vision Ltd for 20X1 and 20x0. Analyse the comparative statement of comprehensive income and describe the relative performance of the company. (10 marks) Part B Ole Company manufactures two products, Product A and Product B. Currently, machine hours are used to allocate the overhead costs to the two products. Ole Company is considering adopting an activity-based costing system. If so, overhead costs will be traced to the following activities: Activities Machining Quality Control Material Moves Activity cost pools $300,000 $200,000 $400,000 Cost Drivers Machine Hours Number of inspections Number of moves Product A 30,000 400 2.000 Product B 20,000 600 6,000 (a) Calculate the total overhead cost assigned to Product A under the current system. (4 marks) (b) Calculate the total overhead cost for Product A if the company implements activity-based costing system. (4 marks) (c) Briefly explain which costing method gives a more accurate picture of the costs. (4 marks) (d) Suppose you are the management accountant in a university. List any three (3) activities commonly carried out in universities and identify an appropriate cost driver for each activity