. Question 4: (20 marks total) Justin and Lisa are starting a new business venture and are in the process of evaluating their product lines. Information for one new product, hand-made lava lamps, is as follows: Every six months a new lamp pattern will be put into production. Each new pattern will require $11,200 in setup costs, The lamp product line incurred $48,000 in development costs and is expected to be produced over the next six years. Direct costs of producing the lamps average $144 each. Each lamp requires 12 labour-hours and 2 machine-hours. Indirect manufacturing costs are estimated at $160,000 per year. Customer service expenses average $16 per lamp Current sales are expected to be 2,000 units of each lamp pattern. Each lamp sells for $224. Sales units equal production units each year. . . Required What are the estimated life-cycle revenues? b. Lwhat is the estimated life cycle operating income if the product life cycle is one year? a