Homework Help - 98 C ezto.mheducation.com/ext/m ap/index.html?_con=con&external_browser Urls253D9%25252Fwebapps25252FBb-McGrawHill-BB595a831 18bfle%25252Fapp%25252Funiversal 18anRbZXIhXom9_uOh-4_RS4i_m2tJWXbEB-03Fc6165COejkoLhtmVbQNaqc03COa2yqB-alkGcyOJSSEuOXYC Project Two (Parts 1, 2, 3 & 5) Saved Help Save & Exit Submit 4 Required information Problem 13-38 (Algo) Target Costing in a Service Firm [LO 13-1] (The following information applies to the questions displayed below.] 6 points JR Safe Systems installs home security systems. Two of its systems, the ICU 100 and the ICU 900, have these Skipped characteristics: Design Specifications ICU 100 ICU 900 cost Data video monitors 3 's 60/ ea . BOOK motion detectors $ 13/ea Alarms $ 18/ ea Wiring 80 feet 1, 120 feet Installation $ 18/hour eferences The ICU 100 sells for $990 installed, and the ICU 900 sells for $1,720 installed Part 1 (Algo) Required: . What are the current gross profit margin percentages on both systems? 2. UR Safe's management believes that it must drop the price on the ICU 100 to $950 and on the ICU 900 to $1,590 to remain competitive in the market. Recalculate gross profit margin percentages for both products at these price levels and then compute the target cost needed for each product to maintain the current gross profit margin percentages. (For all requirements, round your percentage answers to 2 decimal places (i.e. .1234 = 12.34%) and other answers to the nearest whole dollar amount.) ICU 100 ICU 900 1. Current profit margin Profit margin Target cost ON Feb 25 8:41 9 0