3. Describe two ways that UR Safe could cut its costs to get the gross profit margins back to their original levels.

Required information [The following information applies to the questions displayed below.] UR Safe Systems installs home security systems. Two of its systems, the ICU 100 and the ICU 900 , have these characteristics: The ICU 100 sells for $910 installed, and the ICU 900 sells for $1,620 installed. Required: 1. What are the current gross profit margin percentages on both systems? 2. UR Safe's management believes that it must drop the price on the ICU 100 to $850 and on the ICU 900 to $1,490 to remain competitive in the market. Recalculate gross profit margin percentages for both products at these price levels and then compute the target cost needed for each product to maintain the current gross profit margin percentages. (For all requirements, round your percentage answers to 2 decimal places (i.e. 1234=12.34% ) and other answers to the nearest whole dollar amount.)