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ACTIVITY BASED COSTING Sriram Ltd. manufactures four products A, B, C and D. Output and cost data for January 2010 are as follows: Product Output units Material cost Direct labor per units per unit Machine hours per unit (Rs) A B D 20 20 200 200 Number of production runs in the period 2 2 5 5 14 10 50 20 80 1 3 1 3 1 3 1 3 Direct labor cost per hour is Rs.10. Overhead costs are as follows: Short-run variable cost Rs 10,560 Set-up costs Rs 1,000 Expediting and scheduling costs Rs.10,080 Material handling costs Rs. 7,840 Rs 42,480 Required Calculate product costs using the followings approaches: a. Traditional/Absorption costing b. ABC c. Compare and comment on product costs determined under the two approaches