Compute the unit cost of both the basic and deluxe toaster using both the unit-based approach, and the activity-based costing approach. Use the data and template provided in this file. Also, prepare sample budgeted income statements and balance sheets based on the costing data you calculated. You can make your own assumptions related to the number needed to complete these statements.

PopUp Company produces two types of toasters, basic and deluxe. For the current period, the company reports the following data: Basic Toaster Deluxe Toaster Volume 20,000 units 5,000 units Machine Hours 1,000 2,400 Batches 315 125 Engineering Modifications 20 50 Prime Costs $20,000 $30,000 Market Price $25 per unit $60 per unit Additional Information Follows Engineering Support Electricity Setup costs Costs Driver $15,900 Engineering Modifications 25,000 Machine Hours 33,900 Batches 1) Compute the manufacturing cost per unit of each toaster using the current unit-based approach. Under this system costs are assigned to the toasters on the basis of machine hours. 2) Compute the manufacturing cost per unit of each toaster using an activy-based costing approach