Lakeside Inc. produces a product that currently sells for $68.40 per unit. Current production costs per unit include direct materials, $28. direct labor. $30: variable overhead, $14.00: and fixed overhead, $14.00. Product engineering has determined that certain production changes could refine the product quality and functionality. These new production changes would increase material and labor costs by 20% per unit. Required: a. What would be the incremental profit or loss if Lakeside could sell the refined version of its product for $76 per unit? (Round your final answer to 2 decimal places. Loss amounts should be Indicated with a minus sign.) X Answer is complete but not entirely correct. Incremental Profit (LOSS) $ 2440 x b. Should it be processed further? Yes No