1. Find (a) total sales revenue, (b) selling price, (c) rate of retum on investment. and (d) markup percentage on ful cost for this product 2. The new CEO has a plan to reduce fued couts by $275,000 and variable costs by $0.25 per unit while continuing to produce and sell 500,000 units Using the same markup percentage as in requirement 1, calculate the new. selling price 3. Assume the CEO insthutes the changes in requirement 2 including the new selling pnce. However, the reduction in variable cost has resuled in lower product quality resuting in 10% fower units being sold compared to before the change. Calculate operating income (oss) 4. What concems, if any, other than the qualay problem doscribed in requirement 3, do you see in implementing the CEOs plan? Explain briefly. Requirement 1. Find (a) totat sales revenue, (b) selling price, (c) rate of return on investment, and (d) markup percentage on full cost for this preduct. Begin by calculating the (a) total sales revenue. Rearrange the income statement formula to solve for the amount