5 (20 marks) (a) High Grade Corporation manufactures a product that is marketed in Latin America, Europe, and Asia. Its total manufacturing cost to produce 100 units of product A is 4,500, detailed as follows: Raw materials 1,000 Direct labour 2,000 Overhead 1,500 Total 4,500 The company bases its selling price on a cost-plus formula. Required: (i) What would be High Grade Corporation's selling price per unit if it wants a gross profit of 10 percent above cost? (5 marks) (ii) High Grade Corporation wants to be price competitive on an international basis. To accomplish this, it must be able to price its product no higher than 43. Using the target costing methodology, what would be High Grade Corporation's allowable costs? Assume that the company still wants a profit margin of 10 percent of its allowable costs. What does your calculation imply about its manufacturing costs? (5 marks) (b) Assume that after your graduation, you are joining in an audit firm as an International Accounting Analyst and you are asked to provide the five most important recommendations to analyse a non-domestic financial statement. Please discuss the five recommendations. (10 marks)