Target Costing Laser Cast, Inc., manufactures color laser printers. Model J20 presently sells for $325 and has a total product cost of $260, as follows: ideas: 1. Purchase a plastic printer cover with snap-on assembly, rather than with screws. This will reduce the amount of direct labor by 9 minutes per unit. 2. Add an inspection step that will add six minutes per unit of direct labor but reduce the materials cost by $7 per unit. The direct labor rate is $21 per hour. a. Determine the target cost for Model J20 assuming that the historical markup on product cost and selling price are maintained. Round your final answer to two decimal places. b. Determine the required cost reduction. Enter as a positive number. Round your final answer to two decimal places. $