Consider the monthly production cost information for Santiago's Salsa given below. Santiago's Salsa Production Costs April 2020 Production - Jars of salsa Ingredient cost (variable) Labor cost (variable) Rent (fixed) Depreciation (fixed) Other (fixed) Total 25,000 $20,000 $12,000 $5,000 $6,000 $1,000 $44,000 The company is currently producing and selling 325,000 jars of salsa annually. The salsa sells for $ 5.00 each. The company is considering lowering the price to $ 4.60 . Suppose the action will increase sales to 375,000 jars of salsa. Required a. What is the incremental cost associated with producing an extra ##### jars of salsa? Monthly Variable costs per jar: Ingredient cost Labor cost Total monthly variable cost at current production Monthly Number of jars of salsa Monthly Variable cost per jar at current production Incremental number of jars Incremental cost associated with price change b. What is the incremental annual revenue associated with the price reduc $0.40 per jar? Original annual venue Annual Revenue with price change Incremental annual revenue associated with price cha c. Should Santiago's lower the price of its salsa? Explain why