Abbott Laboratories is an American multinational medical devices and health care company with headquarters in the Abbott Park Business Center in Lake Bluff Illinois, United States. The company is planning for a new product. Market research information suggests that the company will be able to sell 10,000 units at OMR 65 per unit. The company seeks to make a profit of 30% on product cost. It is estimated that the lifetime costs of the product will be as follows: Details Quarter 1 Quarter 2 Quarter 3 Quarter 4 OMR OMR OMR OMR 25,000 15,000 12,000 5,000 28 24 26 Research and design Costs Acquisition and Construction Costs Material cost per unit Labour cost per unit Overhead cost End of life costs Units manufactured and sold 8 6 200 800 1200 12 1000 40,000 2,000 0 0 5,000 3,000 The company requested Ms. Aisha who is the Chief Accountant of the company to submit a report to the Managing Director as early as possible by comparing Target cost of the product and Original lifecycle cost per unit of the product. As a management accounting student could you help Ms Aisha to do what is requested by the Managing Director Page 2 of 4