E4-19 (Algo) Calculating Target Cost [LO 4-8] Turtle Inc. has developed a new and improved widget. The company plans to sell the product through an existing website. Turtle's marketing department believes the product will sell for $110. Turtle's goal is a 30 percent profit margin on the widget. Required: 1. If current prototypes cost $61.00 to produce, will Turtle meet its profit goal? Yes O No 2. Calculate the target cost necessary for Turtle to earn 30 percent profit. Target Cost