(o+1330e 03: A company has developed a new product that has a hort life cycle. Information about the product is as follows: Selling price and product life cycle " The product will have a life cycle of 4 000 units. tis estimated that the first 3500 units will be sold for S215 each. The product will then enter the decline' stage o s life cycle when the selling price will be reduc . Production and costs The product will be produced in batches of 100 units Labour will be paid at $24 per hour. Other variable costs will e s 000 per batch. Fixed cost will total $130 000. T apply throughout the product's lfe.223328 Learning curve The first batch will take 500 labour hours to produce. There will be a 90 per cent learning curve that will continue until 32 batches have hese costs will . . been produced. Every batch produced above this level output wil take the same amount of labour time as the 32nd batch Note: The learning index for a 90 per cent learning curve -0.152 ne2) 19676815148 2 34 . Required: (a) Calculate the time taken for the 32nd 32 ,. (b) Calculate the selling price of the final 500 units that will allow the company to earn a total profit of$150000 from the product. 4a (8%) 0