Master Inc. is a leading producer of glass panels for the construction industry. The annual income statement of Master Inc. for year ended 31 December 2021 were as follows: Sales revenue (60,000 units) $3,600,000 Less: Cost of goods sold Direct materials $480,000 Direct labour $600,000 Variable manufacturing overheads $120,000 Fixed overheads $300.000 $1.500.000 $2,100,000 Less Selling & administrative expenses Sales commission (% of sales) Fixed selling & admin expenses $288,000 $420.000 $ 708.000 $1.392.000 Net operating income Required: (Treat each case independently) 1) Compute the break-even point in units and in sales dollars. What is the current margin of safety in sales dollars. (8 marks) 2) If Master Inc. believes that they are able to earn a targeted profit of $1,500,000 next year, how many glass panels must they sell to achieve this target. (2 marks) 3) Using the answers in Q1 and Q2, explain why cost-volume-profit analysis can be useful to management for planning and decision making. (4 marks)