DL: Pan and Company manufacturer of quality handmade walnut bowls, has had a steady growth in sales for the past 5 years. However, increased competition has led Mr. Pan, the president, to believe that an aggressive marketing campaign will be necessary next year to maintain the company's present growth. To prepare for next year's marketing campaign, the company's controller has prepared and presented Mr. Pan with the following data for the current year, 2020 (Click the icon to view the data.) Read the movirements Requirement 1. What is the projected net income for 20207 Using the equation method, select the basic formula used to compute the target net income for 2020. Revenues Fixed costs The target net income for 2020 is H Requirements Target net income. 1-Tax rate Data table Variable cost (per bowl - X Direct 350 Direct manufacturing labor 7.50 88 Variable overhead (manufacturing, marketing, distribution and customer service) 250 $ 1350 Tolal variable cost per bow Fixed costs Manufac $ 16.000 Marketing, dabution, and customer service Total fixed costs 132.500 $146.500 $ 27.00 $553,500 40% 1. What is the projected net income for 20207 2. What is the breakeven point in units for 202071 3. Mr. Pan has set the revenue target for 2021 at a level of $594,000 for 22,000 bowls). He believes an addisonal marketing cost of $47,250 for advertising in 2021, with all other costs remaining constant, will be necessary to attain the revenue target. What is the net income for 2021 the additional $47,250 is spent and the revenue target is met? What is the breakeven point in revenues for 2025 the additional $47.250 is spent for advertising? 5 the additional $47,250 in spent, what are the required 2021 revenues for 2021 net income to equal 2020 net income? 6. At a sales level of 22,000 units, what maximum amount can be spent on advertising a 2021 net income of $60,300 is desired? Seing price Expected sales. 20,000 Income taxe Print Done Print Done Clear all Check