Use the data in the following table to answer questions regarding the production of a product Xnew. Month Labor Hours Mfg. OH Costs January 4,738 $ 399,684 February 4,953 $ 408,965 March 4,883 403,815 April 5,677 457,656 May 4,465 390,263 June 5,505 451,085 July 4,135 363,054 August 5,743 459,855 September 5,084 423,221 October 5,109 412,494 November 3,797 $ 336,453 December 3,875 358,638 Q1. Use the high low method to estimate the amount of variable overhead per labor hour. Place your answer in highlighted cell.Q2. Use the high low method to estimate the amount of xed overhead per month. Place your answer in highlighted cell. Additional data about Xnew is given below: Sales price per unit of Xnew $ 210.00 Direct Labor costs per unit of Xnew $ 22.50 Xnew uses 1 / 2 hour of labor per unit Direct Material costs per unit of Xnew $ 40.20 Variable Sales and Administrative 35 52.00 costs per unit of Xnew Fixed Sales and Administrative costs $ 102,000 traceable to Xnew per month Q3. What is the estimated contribution margin of a unit of Xnew? Q4. What is the monthly break-even number of units? Q5. What is the expected prot if 8,600 units are produced and sold? [Before taxes) Q6. If the tax rate is 20% how many units need to be sold in a month to earn $310,000 after tax? Q7. If the cost of materials increases by $1.50 per unit what is the new break-even point? Q8. What is the expected total profit if discounting the price by 8% increases expected sales to 9,500 units? Use before tax profits for this question. 3. Put the answers in the appropriate cells. You may reference another cell that contains the results of a calculation. 4. Your calculations should be accessible from your work sheets. I.e., do not do the supporting work elsewhere and then enter answers without indicating how the answers were determined. 5. You may discuss the assignment with your classmates. It is not, however, a group assignment and it is expected that everyone will work through the material and submit their own solutions. 6. If you need additional work space you may add additional work sheets to the note book. This sheet must be placed after the Part 3 sheet. If you want credit for this work make sure that the references to the work are clear, the work is well organized, and everything is appropriately labelled. Do not insert Rows or Columns into Tabs "Part 1, Part 2, or Part 3". You may add comments in cells to the right of the answer cells