QUESTION 3 (25 MARKS) Conway Manufacturing Company has prepared and presented the following data for 2014. Required: 1) Compute the expected selling price perunit, using the equation method 11) Given the expected sales of 6,00 wnits, prepare a contribution margn incoume statement for the year ended December 31, 2014, detailing the components of total fixed costs, and clearly showing contribution and net income. ( 4 marks) iii) The president of Conway Manufacturing is under pressure from stockholders to increase operating income by $48,0oo in 2015 . Management expects per unit data and total fixed costs to remain the same in 2015. Use the contribution margin method, to compute the number of units that must be sald in2015 to reach thesher holders' desired profit level. Is this a realistic goal? (4marks) iv) Assume that Conway Manufacturing sells the same number of units in 2015 as it did in 2014. Assuming unit variable costs and total fixed costs remain unchanged, what would the selling price have to be in order to reach the stockholders' desired profit level? (4marks) v) Calculate the margin of safety in number of units and sales dollars. ( 3 marks) V1.) Given the planned unit sales of 6,000 units, construct a breakeven chart for Conway Manufacturing Company, clearly showing the breakeven point and the margin of safety in units and dollars and the region representing profits and losses. [Use a scale of 2cm to represent 1,000 wnits on the x-axis and 2cm to represent sa00,00e on the yaxis]. (7 marks)