Please answer the question 1-3, specific working is required. Thanks

1of2 ECOSI 151: Introduction to Management Accounting Seminar 7 Martin Company is considering the introduction of a new product. To determine a target selling price, the company has gathered the following information: Number of units to be produced and sold each year Unit product cost Projeued annual selling general, and administrative expenses Esdmated imeStment required by the company Desired return on investment (ROI) Required The company uses the absorption costing approach to cost-plus pricing. 1. Compute the mark-up the company will have to use to achieve the desired ROI. 2. Compute the target selling price per unit. L J Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year. These peak sales are shown in the company's sales budget for the second quarter given below: April May June Total Budgeted sales 300,000 500,000 200,000 1,000,000 From past experience, the company has learned that 20% of a month's sales are collected in the month of sale, that another 70% is collected in the month following sale, and that the remaining 10% is collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totalled 230,000 and March sales totalled 260,000. Required 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. 2. Assume that the company will prepare a budgeted balance sheet as of 30 June. Compute the debtors as of that date.20f2 l Down Under Products Ltd of Australia has budgeted sales of its popular boomerang for the next four months as follows: Sales in units The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of-month stock levels must equal 10% of the following month's sales. The stock at the end of March was 5,000 units. Required Prepare a production budget for the second quarter. In your budget, show the number of units to be produced each month and for the quarter in total