Task 2 (6 marks): When you present your output to CFO, CFO finds this approach simplistic and asks you to allocate each department's overhead separately. Overhead costs in frame fabrication are allocated to chairs based on direct labor costs, whereas cushion fabrication overhead costs are allocated based on direct material costs. Budgeted overhead costs of each department for the coming year are shown in the accompanying table. Budgeted Overhead Costs Frame Fabrication Cushion Fabrication Rent $ 500,000 $1,180,000 Indirect labor 650,000 1,010,000 Indirect materials 470,000 655,000 Equipment lease payments 1.413,000 Total overhead $1,620,000 $4,258,000 Calculate the unit cost for basic and executive chairs using the two department overhead rates. Explain the difference in the unit costs between the two methods in tasks 1 and 2. Comment on which method is likely to produce more accurate estimates of the unit costs. Please note: When doing calculation, round your answer to the nearest two decimal points. Present your calculations and discussions in a clear and coherent fashion. An ineffective writing structure will discount the soundness of the explanations and the marks. Make sure that you clearly identify the assumptions if needed Task 2 (6 marks): When you present your output to CFO, CFO finds this approach simplistic and asks you to allocate each department's overhead separately. Overhead costs in frame fabrication are allocated to chairs based on direct labor costs, whereas cushion fabrication overhead costs are allocated based on direct material costs. Budgeted overhead costs of each department for the coming year are shown in the accompanying table. Budgeted Overhead Costs Frame Fabrication Cushion Fabrication Rent $ 500,000 $1,180,000 Indirect labor 650,000 1,010,000 Indirect materials 470,000 655,000 Equipment lease payments 1.413,000 Total overhead $1,620,000 $4,258,000 Calculate the unit cost for basic and executive chairs using the two department overhead rates. Explain the difference in the unit costs between the two methods in tasks 1 and 2. Comment on which method is likely to produce more accurate estimates of the unit costs. Please note: When doing calculation, round your answer to the nearest two decimal points. Present your calculations and discussions in a clear and coherent fashion. An ineffective writing structure will discount the soundness of the explanations and the marks. Make sure that you clearly identify the assumptions if needed