st Annual Muddy Blues Festival Statement of Profit and Loss August, 2012 Ticket Sales $38,640 Contributions from Sponsors 8,800 T-Shirt Sales 9,000 Bumper Sticker Sales 3,000 Concession/Vendor Fees 1,350 Total Receipts $60,790 Musical Performance Fees $32,800 VIP Catering 5,762 Prize Money 5,500 Hotel Rooms for Musicians 4,288 Cost of T-Shirts & Bumper Stickers 3,401 Sponsor Signs 3,133 Insurance 2,046 Ticket Sellers 1,936 Miscellaneous Fixed Costs 1,662 Portable Toilets 1,260 Ticket Printing 1,050 Security 1,043 Judging Fees 750 Gifts for First 200 Children 500 Total Expenses 65,131 Net Profit/Loss ($4,341) Print Shop Costs Materials Labor Total T-Shirts $ 1,537 $ 420 $ 1,957 Bumper Stickers 914 530 1,444 $ 2,451 $ 950 $ 3,401 2012 Print Shop Estimates Total Overhead $ 52,433 Total Labor Hours 2,420 Total Machine Hours 1,673 Labor hours used - t-shirts 142 Labor hours used - bumper stickers 102 Machine hours used - t-shirts 89 Machine hours used - bumper stickers 151 Please find the solution from the above information. Question: The town's print shop only charged The Collective materials and labor for the t-shirts and bumper stickers. The Collective sold all t-shirts and bumper stickers it manufactured. The t-shirts sold for $12 each and the bumper stickers were sold for $4 each. Calculate the total manufacturing costs of both items per unit and the gross profit per unit of both items: a. using direct labor hours as the overhead allocation base b. using machine hours as the overhead allocation base