omework: Chapter 3 Homework tion list Question 16, P3-41 (similar to) Part 1 of 9 HW Score: 60.24%, 18.07 of 30 points Points: 0 of 2 Save D.L. Barnes and Company, a manufacturer of quality handmade walnut bowls, has had a steady growth in sales for the past 5 years. However, increased competition has led Mr. Barnes, the president, to believe that an aggressive marketing campaign will be necessary next year to maintain the company's present growth. To prepare for next year's marketing campaign, the company's controller has prepared and presented Mr. Barnes with the following data for the current year, 2020: (Click the icon to view the data.) Read the requirements. estion 12 estion 13 estion 14 estion 15 estion 16 estion 17 Requirement 1. What is the projected net income for 2020? Using the equation method, select the basic formula used to compute the target net income for 2020. me solve this Etext pages Get more help Clear all Check answer = Homework: Chapter 3 Homework Question list Question 11 Requirements Question 16, P3-41 (similar to) Part 1 of 9 HW Score: 60.24%, 18.07 of 30 points Points: 0 of 2 Save D.L. Barnes and Company, a manufacturer of quality handmade walnut bowls, has had a steady growth in sales for the past 5 years. However, increased competition has led Mr. Barnes, the president, to believe that an aggressive marketing campaign will be necessary next year to maintain the company's present growth. To prepare for next year's marketing campaign, the company's controller has prepared and presented Mr. Barnes with the following data for the current year, 2020: (Click the icon to view the data.) Read the requirements Data table Variable cost (per bowl) Direct materials 3.00 Direct manufacturing labor 8.50 Variable overhead (manufacturing, marketing, distribution and customer service) 4.00 S 15.50 Total variable cost per bowl 1. What is the projected net income for 2020? 2. What is the breakeven point in units for 2020? 3. Mr. Barnes has set the revenue target for 2021 at a level of $728,500 (or 23,500 bowls). He believes an additional marketing cost of $52,700 for advertising in 2021, with all other costs remaining constant, will be necessary to attain the revenue target. What is the net income for 2021 if the additional $52,700 is spent and the revenue target is met? 4. What is the breakeven point in revenues for 2021 if the additional $52,700 is spent for advertising? 5. If the additional $52,700 is spent, what are the required 2021 revenues for 2021 net income to equal 2020 net income? 6. At a sales level of 23,500 units, what maximum amount can be spent on advertising if a 2021 net income of $84,180 is desired? le th Fixed costs Print Done Manufacturing S 14,000 156,500 Marketing, distribution, and customer service $ 170,500 Total fixed costs Selling price S 31.00 Expected sales, 22,000 units S 682,000 Income tax rate 40% wer