Apricot Trading makes a medium sized football for children. Costs and selling price are detailed in the following table: P40 is the unit price P24 cost margi AL per unit A fixed annual expenditure of AP16,000

Calculate (i) P/V ratio (ii) Break even sales (iii) Sales sufficient to earn a P2,000 profit (iv) How much profit do you make if your sales amount P60,000 (v) What would the new break even sales be if Apricot reduced the football's price by 10% (10 marks)