EXERCISE 1 Lady Gaga has joined the 3rd Time's a Charm a company. She is responsible for managing a consumer packaged product with a retail price of $2.00. Retail margins on the product are 33%, while wholesalers take a 12% margin. 3rd Time's a Charm product and the direct competitors for this product sell a total of 40 million units annually, and 3rd Time's a Charm has 24% market share of this total. Variable manufacturing costs for the product are $0.09 per unit. Fixed manufacturing costs to produce this product are $1,800,000. The advertising budget for the product is $1,000,000. Gaga's ridiculously low salary and expenses total $70,000. Her salespeople are paid entirely by a 10% commission on revenue. Shipping costs, breakage, insurance, and other miscellaneous costs are $0.04 per unit. (a) What is the unit contribution for this product? (b) What is its breakeven point for this product? (c) What market share does the product need to break even? (d) What is the profit generated by this product