Total Manufacturing Cost, Income Statement, Unit Cost, and Selling Price to earn a profit in 2016 equal to 15% of their estimated total long-term investment of $600,000 (ignore income taxes). Their plans indicate that each unit of the new product requires the following: 30% of total sales, and non-factory administrative expenses are 20% of total sales. Required a. Incorporate the above data into a schedule of estimated total manufacturing costs and compute the unit production cost for 2016. Do not use negative signs with any of your answers. b. Prepare an estimated income statement that would provide the target amount of profit for 2016. c. What unit sales price should Innovation charge for the new product? Total Manufacturing Cost, Income Statement, Unit Cost, and Selling Price to earn a profit in 2016 equal to 15% of their estimated total long-term investment of $600,000 (ignore income taxes). Their plans indicate that each unit of the new product requires the following: 30% of total sales, and non-factory administrative expenses are 20% of total sales. Required a. Incorporate the above data into a schedule of estimated total manufacturing costs and compute the unit production cost for 2016. Do not use negative signs with any of your answers. b. Prepare an estimated income statement that would provide the target amount of profit for 2016. c. What unit sales price should Innovation charge for the new product