Net sales for the year were $500,000 and cost of goods sold was $295,000 for the company's existing products. A new product is presently under development and has an expected selling price of not more than $57 per unit in order to remain competitive with similar products in the marketplace. Required: a. Calculate gross profit and the gross profit ratio for the year. Cost of goods sold Gross pro IS 500 000 295 000 S 205.000 b. What is the maximum cost per unit that can be incurred to manufacture the new product so that the product can be priced Competitive and w at result in a reduction to the company OSS O rato Do not found intermediate calculations Re your final answer to 2 decimal places)