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Carmon Company is considering the addition of a new product to its cosmetics line. The company has three distinctly different options a skin cream, a bath oil, or a hair coloring gel. Relevant information and budgeted annual income statements for each of the products follow. Relevant Information Skin Cream Bath Oil color Gel Budgeted sales in units (a) 124,000 204,000 84,000 Expected sales price (b) 13 Variable costs per unit (c) 2 s Income statements Sales revenue (axb) S 868,000 $1,224,000 $1,092,000 Variable costs (ax c) (248,000) (612,000 (56,000) Contribution margin 620,000 612,000 336,000 465,000 (465,000) 104,000) Net income 155,000 147,000 232,000 Required a. Determine the margin of safety as a percentage for each product (Round your answers to nearest whole percent) Skin cream Bath oil Color Gel Margin of safety b. Prepare revised income statements for each product, assuming a 20 percent in the budgeted increase Skin Cream O Ask me