Listed here are the total costs associated with the production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $553 each. Costs 1. Plastic for casing-$21,000 2. Wages of assembly workers-$82,000 3. Property taxes on factory-$7,000 4. Accounting staff salaries-$32,000 5. Drum stands (1,000 stands purchased) $40,000 6. Rent cost of equipment for sales staff-$36,000 7. Upper management salaries-$220,000 8. Annual flat fee for factory maintenance service-$14,000 9. Sales commissions $18 per unit 10. Machinery depreciation, straight-line-$47,000 TrueBeat expects production and sales levels to remain constant from year 4 onward at 6,000 drum sets. Write a Profit Formula for TrueBeat's operations using variable costing. NOI = Q x CM unit FC, where Q represents the number of units produced and sold, CM unit is the contribution margin per unit and FC is the total fixed expenses. a) Profit formula b) Complete chart assuming the same number of units will be produced and sold. Sales Revenue Variable Expenses Fixed Expenses Profit/NOI Units produced/sold 4,000 5,000 6,000 7,000 c) Prepare a Cost-Volume-Profit graph for TrueBeat Company (you can use the graph at the end of the assignment or create your own) i) Label both the x and y axis using appropriate increments. Dollar values should be used for the y axis and number of units for the x axis. ii) Plot the Fixed Expense line. Label it. iii) Plot the Sales Revenue line and label it. iv) Plot the Total Expense line and label it. v) Indicate the Break-even Point on the graph and label it. vi) Shade and label the portion of the graph that indicates the company's positive profit