Please include necessary calculations

INSTRUCTIONS YO U ARE TO WORK ON THIS IN YOUR ASSIGNED GRO UPS . ALL WORK MUST BE DONE ON THE EXCEL SPREADSHEET,"Answer Entry THE FINAL PROJECT IS DUE ONFRIDAY, NOVEMBER 2ND. ONLY ONE MEMBER OF THE GROUP WILL BE REQUIREDTO SEND THIS IN SHOW ALL WORKFOR EACH QUESTION The Joe Echo Company (JEC) is a start-up company and just launched the design for a new product for sound systems The product will be sold starting in January and JECexpects to be able to produce and sell 10,000 of these sytems for the month. The costs per system have been determined as follows: Direct Materials Direct Labor Variable manufacturing overhead 225 86 43 Total foxed manufacturing overhead 2,580,000 Selling and administrative costs have also been estimated for the year as follows: Variable selling & administrative costs Foxed seling & administrative costs 25 perunit 350,000 FOR THE PRODUCT COSTS: 1. WHAT IS THE FULLABSORPTION COST PER UNIT FORTHE NEW PRODUCT? 2. WHAT IS THE VARIABLE COST PER UNIT FORTHE NEW PRODUCT? FOR PRICING: 3. Given this is a un que product, JEC is a price setter and is planning to set the price using the cost-plus profit approach. The profit is expected to be 25% of ALL costs what should the price of the product be to achieve this target? 4. PREPARE THE ABSORPTIONCOSTING INCOME STATEMENT,ASSUMING 10,000 UNITS WERE PRODUCEDAND SOLD 5. PREPARE THE CM COSTING INCOME STATEMENT, ASSUMING THE 10,000 UNITS WERE PRODUCEDAND SOLD. 6. ASSUME THAT JECWANTED TO HAVE A SUPLUS AND PRODUCED 15,000O UNITS BUT ONLY SOLD 10000. WHAT WOULD BE THE DIFFERENCE BETWEEN THE OPERATING INCOME FOR THE ABSORPTIONCOSTING METHOD VERSUS THAT FOR THE CONTRIBUTION MARGIN STATEMENT 7. WHAT WOULD BE THE BREAKEVEN FORJEC FOR THIS PRODUCT (units and sales revenue? 8 ASSUME THAT JEC WANTED TO EARN $8,000 FORITS FIRST YEAROF OPERATIONS. WHAT AMOUNT OF SALES REVENUE WOULD JEC NEED TO EARN $8,000? 9. Determine the margin of safety for the firm,given it is expected to sell 10,000 units 10. Using the operating leverage factor for the sale of 10,000 and assuming that JEC also wants to consider what the profit would be i sales were 25% arger, what is the new profit gn en the 25% increase in sales