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Rooney Company is considering the addition of a new product to its cosmetics line. The company has three distinctly different options: a skin cream, a bath oil, or a hair coloring gel. Relevant information and budgeted annual income statements for each of the products follow. Relevant Information Skin Cream Bath Oil Color Gel Budgeted sales in units (a) 128,000 208,000 88, 000 Expected sales price (b) 14 Variable costs per unit (c) N Income statements Sales revenue (a x b) $1, 152, 000 $1, 456, 000 $1, 232,000 Variable costs (a x c) (256, 000) 832, 000) (792,000) Contribution margin 896,000 624,000 440,000 Fixed costs (693 , 000) (495 , 000) (140, 000) Net income $ 203,000 $ 129,000 $ 300,000 Required: a. Determine the margin of safety as a percentage for each product. b. Prepare revised income statements for each product, assuming a 20 percent increase in the budgeted sales volume. c. For each product, determine the percentage change in net income that results from the 20 percent increase in sales. d. Assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? e. Assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line? Complete this question by entering your answers in the tabs below. Reg A Req B Req C Req D to E Determine the margin of safety as a percentage for each product. (Round your answers to whole percentage values.) Skin Cream Bath Oil Color Gel Margin of safety % % %Required: a. Determine the margin of safety as a percentage for each product. b. Prepare revised income statements for each product, assuming a 20 percent increase in the budgeted sales volume. 1:. For each product. determine the percentage change in net income that results from the 20 percent increase in sales. d. Assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? e. Assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line? Complete thlo question hr antorlng your answers In the tabs below. Sales revenue Contribulion margin Fixed cost Relevant Information Skin Cream Beth Oil Color Gel Budgeted sales in units {a} 128,000 208,000 88,000 Expected sales price (in) 5 9 5 "I 5 14 Variable costs per unit. (a) 5 2 5 4 5 9 Income statements Sales revenue (a N b} 51,152,000 51,456,000 51,232,000 Variable costs (a x a) [256,000] (032,000! (T92,000'J Contribution margin 096,000 524,000 440,000 Fixed casts {693,000} {495,000} {140,000} Net: income 5 203,000 5 129,000 5 300,000 l Req ulred: a. Determine the margin of safety as a percentage for each product. b. Prepare revised income statements for each product, assuming a 20 percent increase in the budgeted sales volume. c. For each product. determine the percentage change in net income that results from the 20 percent increase in sales. :1. Assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? e. Assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line? Complete this question by enterlng your answers In the tabs below. For each product, determine the percentage change In net Income that results from the 20 percent Increase In sales. (Round your answers to whole percentage values.) II_e Relevant Information Skin Cream Bath Oil Color Gel Budgeted sales in units (a) 128,000 208,000 88, 000 Expected sales price (b) 7 14 Variable costs per unit (c) N LO 4 9 Income statements Sales revenue (a x b) $1, 152, 000 $1, 456, 000 $1, 232,000 Variable costs (a x c) (256, 000) (832, 000) (792,000) Contribution margin 896,000 624, 000 440,000 Fixed costs (693, 000) (495, 000) (140 , 000) Net income $ 203,000 $ 129,000 300,000 Required: a. Determine the margin of safety as a percentage for each product. b. Prepare revised income statements for each product, assuming a 20 percent increase in the budgeted sales volume. c. For each product, determine the percentage change in net income that results from the 20 percent increase in sales. d. Assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? e. Assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line? Complete this question by entering your answers in the tabs below. Req A Req B Req C Req D to E Assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? Assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line