Pick-Me-Up Company is introducing a new high caffeine coffee in its stores and must decide what price to set for the coffee beans. An estimated demand schedule for the product is as follows: Price 1 Lb. units demanded $5.00 85,100 $6.00 69,300 $7.00 57,500 $8.00 51,800 $9.00 35,400 $10.00 28,100 Estimated costs are as follows: Variable manufacturing costs per unit $1.50 Fixed manufacturing cost per year $41,400 Variable selling & administrative costs per unit $0.50 Fixed selling & administrative costs per year $20,200 Prepare a schedule showing management the total revenue, total cost, and total profit or loss for each selling price. At what price do you recommend Pick-Me-Up Company should choose. Select an answer Price Demand Total Revenue Variable Costs Fixed Costs Total Costs Total Profit (Loss) $5.00 $6.00 $7.00 $8.00 $9.00 $10.00