Please answer this problem step by step, in excel preferably

02. You are given the following data for 4 models of product produced and sold by Precision Pumps in Model 1 Model 2 Model 3 Moda Particulars Direct Labour Cost per Units Chrect Material cost per unit $ 170 80 55 140 60 120 135 Number of units Sold 20000 25000 16000 8000 300 Selling Price per unit $ 250 280 307 Annual Overheads ($) Procurement oduction Planning & Control Maintenance Machine Setup Supervision 460,000 300,000 270,000 110,000 130,000 Required: 1) Determine the Profit and Profit Margin for each of the products when overheads are absorbed in the ratio of sale ii) Determine the Profit and Profit Margin for each of the products when overheads are absorbed in the ratio of Dim Costs. ii) Determine the Profit and Profit Margin for each of the products when overheads are absorbed in the rati iv) Write your observations based on your answers from the above three Cha (50)