The new CEO of Richard Manufacturing has asked for a variety of information about the operations of the firm from last year. The CEO is given the following information, but with some data missing: (Click to view the information.) Requirements 1. Find (a) total sales revenue, (b) selling price, (c) rate of return on investment, and (d) markup percentage on full cost for this product. 2. The new CEO has a plan to reduce fixed costs by $275,000 and variable costs by $0.20 per unit. Using the same markup percentage as in requirement 1, calculate the new selling price. 3. Assume the CEO institutes the changes in requirement 2 including the new selling price, expecting to sell more units of product because of the lower price. However, the reduction in variable cost has resulted in lower product quality, leading to 5% fewer units being sold compared to before the change. Calculate operating income (loss). ... Requirement 1. Find (a) total sales revenue, (b) selling price, (c) rate of return on investment, and (d) markup percentage on full cost for this product. Begin by calculating the (a) total sales revenue. Rearrange the income statement formula to solve for the amount. The new CEO of Richard Manufacturing has asked for a variety of information about the operations of the firm from last year. The CEO is given information, but with some data missing: (Click to view the information.) Requirements 1. Find (a) total sales revenue, (b) sel X this product Data Table 2. The new CEO has a plan to reduce percentage as in requirement 1, cal 3. Assume the CEO institutes the cha ? roduct because of the lower price. Howeve Total sales revenue units being sold compared to before Number of units produced and sold 500,000 units Selling price ? Requirement 1. Find (a) total sales rev Operating income 225,000 full cost for this pr calculating the (a) total sales revenue. Total investment in assets $ 2,500,000 Variable cost per unit 3.50 Fixed costs for the year $ 3,450,000 wer $ Print Done