Hau Lee Furniture, Inc., spends 50% of its sales dollars in the supply chain and finds its current profit of $24,000 inadequate. The bank is Insisting on an improved profit picture prior to approval of a loan for some new equipment. Hau would like to improve the profit line to $29,000 so he can obtain the bank's approval for the loan. Current Situation Sales $80,000 Cost of material $40,000 (50%) $12,000 Production costs (15%) $4,000 Fixed cost (5) Profit $24,000 (30%) a) What percentage Improvement is needed in the supply chain strategy for profit to improve to $29,000? What is the cost of material with a $20,000 profit? A decrease of % in material (supply-chain) costs is required to yield a profit of $29,000, for a new material cost of (Enter your response for the percevitage decrease to one decimal place and enter your response for the now material cost as a whole number) 56 words English (United States) Focus - 0 = 7 ? WLF O gs