In our first lab of the semester we will create a Java CLI application that enables a store owner to calculate and output the cost of a product. As the owner you determine the store name, product, cost, and hours it takes to make the product. Your output should display all pertinent information in a readable format. Lab Parameters Using Exercise 10 on page 176 of the textbook as a starting point, create an application that gets the following: Product Name Cost of Materials Hours of Work Make sure to use the parameters noted in the exercise to calculate final costs Once the application has all the input and processed it, output the results with all relevant information to include shipping and handling. Add the following: .Place a company name (you make up the company) formatted at the top with ASCII design as you deem appropriate. Detailed invoice for the product. In other words, include pertinent items used to calculate the cost. Format the bottom of the output with ASCII as you deem appropriate. . Challenge Parameters For those who want to create a more robust application, consider the following in this order [Must complete 1 before attempting 2]: 1. [Moderate Challenge] Calculate the price for more than one item (shipping remains the same). Make sure to output each item in the invoice. [Difficult Challenge] Create a product class that encapsulates the information and instantiate object(s) from it to meet all lab parameters. Consider making a separate class file for this. 2. Caitlyn's Crafty Creations computes a retail price for each product as the cost of materials plus $12 multiplied by the number of hours of work required to create the product, plus $7 shipping and handling. Create a class that contains a main) method that prompts the user for the name of a product (for example, "woven purse"), the cost of materials, and the number of hours of work required. Pass the numeric data to a method that computes the retail price of the product and returns the computed value to the main) method where the product name and price are displayed. Save the program as CraftPricing.java. 10. In our first lab of the semester we will create a Java CLI application that enables a store owner to calculate and output the cost of a product. As the owner you determine the store name, product, cost, and hours it takes to make the product. Your output should display all pertinent information in a readable format. Lab Parameters Using Exercise 10 on page 176 of the textbook as a starting point, create an application that gets the following: Product Name Cost of Materials Hours of Work Make sure to use the parameters noted in the exercise to calculate final costs Once the application has all the input and processed it, output the results with all relevant information to include shipping and handling. Add the following: .Place a company name (you make up the company) formatted at the top with ASCII design as you deem appropriate. Detailed invoice for the product. In other words, include pertinent items used to calculate the cost. Format the bottom of the output with ASCII as you deem appropriate. . Challenge Parameters For those who want to create a more robust application, consider the following in this order [Must complete 1 before attempting 2]: 1. [Moderate Challenge] Calculate the price for more than one item (shipping remains the same). Make sure to output each item in the invoice. [Difficult Challenge] Create a product class that encapsulates the information and instantiate object(s) from it to meet all lab parameters. Consider making a separate class file for this. 2. Caitlyn's Crafty Creations computes a retail price for each product as the cost of materials plus $12 multiplied by the number of hours of work required to create the product, plus $7 shipping and handling. Create a class that contains a main) method that prompts the user for the name of a product (for example, "woven purse"), the cost of materials, and the number of hours of work required. Pass the numeric data to a method that computes the retail price of the product and returns the computed value to the main) method where the product name and price are displayed. Save the program as CraftPricing.java. 10