(b) Using mathematical notation similar to that used for Nowlin Plastics, give a mathematical model for calculating profit. (Write your answer in terms of the following variables q = Production Volume (quantity produced), R = Revenue Per Unit, FC = the Fixed Costs of Production, MC = Material Cost per Unit, LC = Labor Cost per Unit, and Pq) = Total Profit for producing and selling) q units.) P(q) = (c) Implement your model from part (b) in Excel using the principles of good spreadsheet design. B 1 1 Cox Electric Breakeven Analysis 2 3 Parameters 4 Revenue per Unit $0.64 5 Fixed Costs $11,000.00 6 Materials Cost per Unit $0.16 7 Labor Cost per Unit $0.11 8 9 Model Production Volume 10 11 12 13 Total Revenue =B11B4 14 15 Materials Cost =B11*B6 Labor Cost Fixed Cost 16 17 18 19 =B11B7 =IF(B11>0,05,0) =SUM(B15:B17) Total Cost 20 Profit =B13-B18 v 21 (d) If Cox Electric makes 13,000 units of the new product, what is the resulting profit (in dollars)? $