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Young Joon Corp. is considering marketing two new graphic calculators, named Speed-Calc 4 and Speed-Calc 5. According to the recent market research, the two products will surpass the current competition in both speed and quality and would be welcomed in the market. Customers would be willing to pay $98 for Speed-Calc 4 and $110 for Speed-Calc 5, based on the projected design capabilities. Both products have many uses, but the primary market interest comes form college students. Current production capacity exists for the manufacture and assembly of the two products. The company has a minimum desired profit of 25 percent above all costs for all of its products. Current activity-based cost rates are as follows:
Materials /parts handling $1.20 per dollar of direct materialsand purchased parts costProduction $8.00 per machine hourMarketing /delivery $4.40 per unit of Speed-Calc 4$6.20 per unit of Speed-Calc 5Design engineering and accounting estimates to produce the two new products are as follows:Speed-Calc 4 Speed-Calc 5Projected unit demand 100,000 80,000Per-unit dataDirect materials cost $5.50 $7.50Computer chip cost $10.60 $11.70Production laborHours 1.2 1.3Hourly labor rate $16.00 $16.00Assembly laborHours 0.6 0.5Hourly labor rate $12.00 $12.00Machine hours 1 1.2
Required:
1. Compute the target costs for each product2. Compute the projected total unit cost of production and delivery3. Using the target costing approach, decide whether the products should be produced.
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