Under the traditional cost system, for each cost category listed below, compute the amount of that resource (cost) that is assumed to be used in total in the production of RT8 as a percentage of the total amount of that resource used across all 300 products. (Hints:If you were to calculate the percentage for a given cost category and add up the percentages across all 300 of the firm's products on that one cost category, the sum would equal 100%.Also, the sum of the percentages in the column below will not add up to 100%.)Then repeat this same question for the ABC system.(Hints: Again, if you were to calculate the percentage for any cost category and add up the percentages across all 300 of the firm's products on that one cost category, the sum would equal 100%.Also, the sum of the percentages in the column below will not add up to 100%.)

TRADITIONALABC

COST

Equipment set-up%%

Purchase Orders %%

Machining%%

Testing%%

Packaging%%

How would you calculate these percentages?