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Question 6 (25 marks) Helios Limited manufactures two products-tape recorders and electronic calculators and sells them nationally to wholesalers. Sales through December 31, 1993, indicate that 35,000 tape recorders and 70,000 electronic calculators were sold this year. The company has a net income goal of 12% on sales. Helios Limited Income Statement for the Year Ended December 31, 1993 Tape Recorders Electronic Calculators Total Total Amount In thousands Total Amount Per Amount In thousands Unit In thousands 15.00 1,575 2,100 Manufacturing Costs: Direct Materials 140 4.00 315 4.50 455 0 0 Direct Labour 70 2.00 210 140 105 805 Variable Overhead 2.00 1.00 6.00 2.00 Overhead35 140 Gross Margin 210 Fixed Marketing, Distribution costs Operating income Income taxes at 40% Net Income 11.50 1,015 495 The company does not intend to change the price of tape recorders. However the competition among manufacturers of electronic calculators has been increasing and in order to match the