a.Develop a cost-estimation equation for Apple's annual cost of revenues and operating expenses.

b.Determine Apple's annual break-even point.

c.Predict operating prot for 2016, assuming 2016 sales of $284,000 million.

d.Identify the assumptions required to use the equations and amounts computed above.

P15-34. CVP Analysis Using Published Financial Statements Condensed data in millions of dollars from Apple's 2014 and 2015 income statements follow! 2015 2014 Revenues........................ $233 715 $182.795 Total cost of revenues and operating expenses. ... (162,485) (130.292] Operating income.... . ... ! ! !1 $ 71.230 $ 52.503