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Problem 19.3A (Algo) Target Costing (L019-4, LO19-5) Meiger Mining, Inc., has just discovered two new mining sites for iron ore. Geologists and engineers have come up with the estimates on the following page regarding costs and ore yields if the mines are opened Site A $ 3.80 Site 8 54.00 Variable extraction costs per ton Fixed costs over the life of the mine! Blasting Construction Maintenance Restoration costs Total fixed costs Total tons of ore that can be extracted over the life of the mine! $150,000 225,000 25,000 40,000 $440,000 200,000 5185,000 240,000 20,000 35,000 5400,000 160,000 Meiger's owners currently demand a return of 20 percent of the market price of iron ore Required: a. If the current market price of Iron ore Is $8.25 per ton, what is Melger's target cost per ton? b-1. Given the $8 25 market price, compute the total cost per ton for Site A and Site B if fixed overhead costs are assigned to products on the basis of estimated tons of ore that can be extracted over the life of the mine. b-2. Should either of the mines be opened? c-1. The engineer working on Site B believes that if a custom conveyor system is installed, the variable extraction cost could be reduced to $3 per ton. The purchase price of the system is $25.000, but the costs to restore the site will increase to $45,000 ft Installed. Given the current $8 market price, compute the total cost per ton for site B c-2. Should Meiger install the conveyor and open Site B? Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Reg C1 Req c2 If the current market price of iron ore is $8.25 per ton, what is Meiger's target cost per ton? (Round your intermediate calculations and final answer to 2 decimal places.) Thingni cost perton Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Reg C1 Reg C2 Given the $8.25 market price, compute the total cost per ton for Site A and Site B if fixed overhead costs are assigned to products on the basis of estimated tons of ore that can be extracted over the life of the mine. (Round your intermediate calculations to 2 decimal places.) Total cost per con Site A Site B Complete this question by entering your answers in the tabs below. Req A Req B1 Req 82 Req C1 Reg C2 Should either of the mines be opened? Should either of the mines be opened? Complete this question by entering your answers in the tabs below. Req A Req B1 Reg B2 Reg C1 Reg C2 The engineer working on site B believes that if a custom conveyor system is installed, the variable extraction cost could be reduced to $3 per ton. The purchase price of the system is $25,000, but the costs to restore the site will increase to $45,000 if it is installed. Given the current $8 market price, compute the total cost per ton for site B. (Round your intermediate calculations and final answer to 2 decimal places.) Show less Total cost perfon