2. "Mighty Feed produces animal feed. The fixed monthly cost of production is $700000 and the variable cost per bag of feed is $1200. Each bag of feed sells for $2500. (a) For a monthly volume of 700 bags, determine the total cost, total revenue and profit (6 points) (b) Determine the monthly break-even volume for 'Mighty Feed' animal feeds. (2 points) (c) If 'Might Feed' increases its price per bag of animal feed from 2500 to 2700 what is the new break-even volume. (2 points) The 'Microscope prints daily newspapers in the city of Montego Bay, Jamaica. The fixed monthly cost of production is $235 000 and the variable cost per newspaper is $25. Each newspaper sells for $60. (d) For a monthly volume of 5000 newspapers, determine the total cost, total revenue and profit (6 points) (e) Determine the monthly break-even volume for 'The Miscroscope. (2 points) (f) Considering the month has 30 days, what is the average number of newspapers that must be sold per day to break even. (2 points) Total 20 Marks