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Bhe swes inc, is a rechit gardening company that is ploting a new strategic initative aimed at increasing gress profit. Currenely, the company's gross profit is 21% or sales, and its torget gross grofit percentage is 26%. The company's current monthly sales ritrenue is 1600,000 . The new initistive being piloted is to produce goods ia houle inseded of buying them feom ahelecale wupplers. fts in-house groduction process has two procedures. The makeup of the coeks of production for Procedure 1 is 40% direct labor, 45% direct materiole, and 15W oveihesd The makeup of the costs of productian for Fracedure 2 . 60\% direct labor, 30% direct materials, and 10+s ovarhead. Assume that Procedure 1 costs twice as much as Procedure 2. Required: 1. Determine whot the colt of laboc, materials, and overhead for both Frocedures 1 and 2 would need to be for the company to ment its taryet gross peafit. 2. The companyr actual labor cost is $120,000 for Procedure 1. Determine the actual cost of direcr labor, direct materiats, and overhead for anch arocedure. and the beta cest of production for each procedure. I more Check ty Wonk uses remainng