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Question 1 Kane Lifestyle has begun manufacturing Majesty" tables, a high end designer dining table. Below is a breakdown of their performance from the previous year Sales 450 Majesty" tables Selling Price $16000/table Direct Materials 110kg @ $45/kg Direct Labour 24 hours @ $30/hr Sales Commission 1.5% of sale price Total Fixed Costs $2,600,000 a) Calculate Kane Lifestyle's profits for the year b) What is the current Contribution Margin and Contribution Margin Ratio? c) If Kane Lifestyle aims to make a profit of $800,000, how many tables must be sold? d) What is the breakeven point in units and dollars e) If Kane Lifestyle only had 300 tables to sell but wanted to make a profit of $1,000,000, at what price would they need to sell each table (Assume Sales commission will stay at $240/table) f) Kane Lifestyle are considering a new marketing campaign to increase sales. They have budgeted $500,000 for the campaign and estimate that sales may increase by 16%. Should they go ahead with the campaign? g) Kane Lifestyle are also thinking of reducing the number of full-time staff and instead have more casual staff on file. This will reduce fixed costs by $140,000 but increase their Variable costs by $120 per table (Do not take the changes from part (f) into account)