Colonial Manufacturing produces a single product requiring the following direct material and direct labor: Chapter 3 Assignment Description Material A Material B Material C Cutting labor Shaping labor Finishing labor Cost per Unit of Input $12/pound $8/pound $15/gallon $14/hour $12/hour $16/hour Required Amount per Unit of Product 24 ounces 8 ounces 0.6 gallon 45 minutes 30 minutes 90 minutes Manufacturing overhead consists of the following items: 1) indirect material, 50.40 per unit of product 2) indirect labor, $900 per month plus $0.80 per unit of product 3) factory maintenance, $18,000 per year plus 50.75 per unit of product 4) factory depreciation, $22,000 per year 5) annual factory property taxes, $12,000. Selling and administrative expenses include the salaries of a sales manager, $45,000 per year, an office manager, $24,000 per year, and two salespersons, each of whom is paid a base salary of $18,000 per year and a commission of $3 per unit sold. Advertising and promotion of the product are done through a year-round media package program costing $1,000 per week. Required a. Analyze all cost and expense factors to determine a general formula (based on units of production) for total cost. b. Assuming a relevant range of 10,000 to 30,000 units, what is the estimated total unit cost for producing and selling 12,000 units? 24,000 units? c. If 28,000 units are produced and sold in a year, what selling price results in a net income before income tax of $75,000? d. Assuming the sales price calculated in part C, how many units must be sold to break even