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QUESTION 2 Answer saved Marked out of 1.00 Flag question Product Pricing: Single Product Presented is the 2014 contribution income statement of Colgate Products. COLGATE PRODUCTS Contribution Income Statement For Year Ended December 31, 2014 Sales (13.000 units) $1,560.000 Less variable costs Cost of goods sold $ 520.000 Selling and administrative 143.000 (663,000) Contribution margin 897,000 Less fixed costs Manufacturing overhead 520.000 seling and administrative 210.000 (730.000) Net income $ 167.000 During the coming year, Colgate expects an increase in variable manufacturing costs of $8 per unit and in fixed manufacturing costs of $35,000. During the coming year, Colgate expects an increase in variable manufacturing costs of s8 per unit and in fixed manufacturing costs of $35,000 (a) f sales for 2015 remain at 13,000 units, what price should Colgate charge to obtain the same profit as last year? Round to the nearest cent. (b) Management believes that sales can be increased to 16.000 units if the selling price is lowered to $107. What would be the excepted profit (or loss) as a result of this action? Use a negative sign with your answer, if appropriate. (c) After considering the expected increases in costs, what sales volume is needed to earn a profit of 167,000 with a unit selling price of $107? Round to the nearest unit