Please write it down step by step...please round off to two decimal places.....this was all the information that was provided

COMA221 Take-Horne Assessment 52 2020 | V2.0 Page 4 of B Section B Cost Volume Profit Analysis 20 Marks Question 3 Study the scenario and complete the questions that follow: Henna Greoo Limited Home Greco Limited manufactures and sells Italian HIP sunglasses. 'l11e following information relates to January 2020: Units manufactured and sold: m Income statement: _ 261500 Less: Manufacturing costs m Material 7'5 000 Labour 50 000 Manufacturing overheads {@ R20 per machine hour) 98 000 38 500 Less: Selling and administrative expenses (60% fixed) Net profit The following changes will come into effect on 1 February 2020: - A sales price increase of 10%. resulting in a 5% decrease in sales volume. - Due to negotiations with the labour union. the labour rate per hour will increase by 6%. - It is expected that material costs will increase by 10%. The variable budget for manufacturing overheads indicates a total cost of R94 400 at a capacity utilisation of 4 800 hours. Source: Honda. T. {2020} Required: 3.1 Calculate the total marginal income and marginal income per unit for the year ended 1 February 2020. (12 Marks) 3.2 Determine how many Italian HIP sunglasses should be sold to break even. (2 Marks) 3.3 Determine the margin of safety envisaged for February 2020 and briey state the signicance thereof. (3 Marks) 3.4 Calculate the estimated selling price required for February 2020to realise a profit of 24% on sales if the sales volume remains constant at 475 units. ( End of Section B