Draft a memo to Maple explaining the key reasons for differences in the total cost per student of operating each academic program that arise between traditional costing approach and ABC. Activity$/$Competencies Demonstrated $\%$ of Final Grade $1.$ Identification and Analysis of Issues $(70\%)$ Issue $1$: Using the traditional approach to assigning overhead costs to academic programs: a$.$ Calculate the predetermined overhead rate. b$.$ Assign the overhead costs to each academic program using the predetermined rate. c$.$ Calculate the total cost per student $($direct costs plus overhead$)$ of operating each academic program. $/20$ Issue $2$a: Using ABC, complete the following requirements: a$.$ Complete the first$-$stage allocation of overhead costs to academic programs. b$.$ Calculate the activity rates for each of the activity cost pools. c$.$ Using the activity rates calculated in $($b$),$ complete the second$-$stage allocation of overhead to academic programs. $/40$ Issue $3$: Based on the results of $(2),$ calculate the total cost per student $($direct costs plus overhead$)$ of operating each academic program. $/102.$ Recommendation$/$Issue #$4$: Draft a memo to Maple explaining the key reasons for differences in the total cost per student of operating each academic program that arise between traditional costing approach and ABC. $(10\%)/203.$ Attention to Detail $(10\%)$ WWW$.$YORKVILLEU.CA BUSI $1043$ INTRODUCTION TO FINANCIAL ACCOUNTING $5$ a$.$ Spelling, grammar, and formatting $/10$ Total $/100$