ShoQuestion $2\mathrm{.}1($Total: $16$ marks$)$ Asgard Furniture Manufacturing makes two models of office chairs: regular and deluxe. Summary data for the two products showed the following:$$ Unit Costs$$ Regular$$ Deluxe$$ Direct materials$$ $$65\mathrm{.}00$ $$105\mathrm{.}00$ Direct labour $($$$20$ per hour$)10\mathrm{.}0020\mathrm{.}00$ Manufacturing overhead$*4\mathrm{.}809\mathrm{.}60*$ Under the company's current costing, manufacturing overhead is allocated on the basis of direct labour$-$hours. The overhead for the year follows:$$ Materials handling$$ $ $300,000$ Setups$400,000$ General factory overhead$500,000$ Total$$ $$1,200,000$ The following table presents the activity levels that relate to the overhead costs:$$ Cost Driver$$ Regular$$ Deluxe$$ Total$$ Number of parts$600,000900,0001,500,000$ Number of setups$7550125$ Direct labour$-$hours$45,00080,000125,000$ The market price for the regular chairs is $ $104$ with expected sales of $40,000$ units. The company expects to sell $25,000$ deluxe chairs at a selling price of $$170$ per unit.$$ Required$$ Determine the unit gross profit for the regular chair using both:$$ traditional and$$ activity$-$based costing methods$$w me the steps to solve Question $2\mathrm{.}1($Total: $16$ marks$)$ Asgard Furniture Manufacturing makes two models of office chairs: regular and deluxe. Summary data for the two products showed the following: $*$ Under the company's current costing, manufacturing overhead is allocated on the basis of direct labour$-$hours. The overhead for the year follows: The following table presents the activity levels that relate to the overhead costs: The market price for the regular chairs is $\backslash (\backslash$$ $104\backslash )$ with expected sales of $40,000$ units. The company expects to sell $25,000$ deluxe chairs at a selling price of $\backslash (\backslash$$ $170\backslash )$ per unit. Required $1.$ Determine the unit gross profit for the regular chair using both: a$.$ traditional and b$.$ activity$-$based costing methods