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Question - Fleet Street Inc., a manufacturer of high-fashion clothing for women, is located in South London in the UK. Its product line consists of trousers (29%), skirts (27%), dresses (11%), and other (33%). Fleet Street has been using a volume-based rate to assign overhead to each product; the rate it uses is £2.20 per unit produced. The results for the trousers line, using the volume-based approach, are as follows:
Number of units produced
14,000
Price (all figures in £)
24.42
Total revenue
341,880
Direct materials
56,200
Direct labor
187,600
Overhead (volume-based)
30,800
Total product cost
274,600
Non manufacturing expenses
51,400
Total cost
326,000
Profit margin for trousers
15,880
Recently, Fleet Street conducted a further analysis of the trousers line of product, using ABC. In the study, eight activities were identified, and direct labor was assigned to the activities. The total conversion cost (labor and overhead) for the eight activities, after allocation to the trousers line, is as follows:
Pattern cutting
£33,060
Grading
28,200
Lay planning
27,500
Sewing
31,600
Finishing
20,900
Inspection
9,300
Boxing up
5,100
Storage
10,200
Required - Determine the profit margin for trousers using ABC.
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