Requirement 1. How much of the total costs in 2020 are value-added, non-value-added, or in the gray area between? Explain jour answers briefly. What actions can Chanaka take to reduce its costs? Begin by calculating the total labor costs, then calculate the total costs. (if an input field is not used in the table, leave the input field empty; do not enter a zero. Round your answers to the nearest whole dollar:) Select the appropriate cost classification, then select the action that Chanaka can take to reduce its costs Data table The percentage of time spent by professional staff on various activities follows: Data table Requirements 1. How much of the total costs in 2020 are value-added, non-value-added, or in the gray area between? Explain your answers briefly. What actions can Chanaka take to reduce its costs? 2. What are the consequences of misclassifying a non-value-added cost as a value-added cost? When in doubt, would you classify a cost as a value-added or non-value-added cost? Explain briefly. 3. Suppose Chanaka could eliminate all errors so that it did not need to spend any time making corrections and, as a result, could proportionately reduce professional-labor costs. Calculate Chanaka's operating income for 2020. 4. Now suppose Chanaka could take on as much business as it could complete, but it could not add more professiorral staff. Assume Chanaka could eliminate all errors so that it does not need to spend any time correcting errors. Assume Chanaka could use the time saved to increase revenues proportionately. Assume travel costs will remain at $14,000. Calculate Chanaka's operating income for 2020