Turtle Inc. has developed a new and improved widget. The company plans to sell the product through an existing website. Turtle's marketing department believes the product will sell for $140. Turtle's goal is a 35 percent profit margin on the widget Required: 1. If current prototypes cost $96.10 to produce, will Turtle meet its profit goal? Yes No 2. Calculate the target cost necessary for Turtle to earn 35 percent profit. Target Cost Majesty Company uses target costing to ensure that its products are profitable. Assume Majesty is planning to Introduce a new product with the following estimates: Estimated market $ 1,600 price Annual demand 93,000 units Life cycle 5 years 25% return on Target profit sales Required: 1. Compute the target cost of this product. 2. Compute the target cost if Majesty wants a 42 percent return on sales. 3. Compute the target cost if Majesty wants a 6 percent return on sales. Complete this question by entering your answers in the tabs below. Required Required Required 3 Compute the target cost of this product. Target Cost Request Required 2 > Majesty Company uses target costing to ensure that its products are profitable. Assume Majesty is planning to introduce a new product with the following estimates: Estimated market $ 1,600 price Annual demand 93,000 units Life cycle 5 years 25% return on Target profit sales Required: 1. Compute the target cost of this product. 2. Compute the target cost if Majesty wants a 42 percent return on sales. 3. Compute the target cost if Majesty wants a 6 percent return on sales. Complete this question by entering your answers in the tabs below. Required Required Required 1 2 3 Compute the target cost if Majesty wants a 42 percent return on sales. Target Cost Majesty Company uses target costing to ensure that its products are profitable. Assume Majesty is planning to Introduce a new product with the following estimates: Estimated market price $ 1,600 Annual demand 93,000 units Life cycle 5 years 25% return on Target profit sales Required: 1. Compute the target cost of this product 2. Compute the target cost if Majesty wants a 42 percent return on sales. 3. Compute the target cost if Majesty wants a 6 percent retum on sales. Complete this question by entering your answers in the tabs below. Required Required Required 1 2. 3 Compute the target cost if Majesty wants a 6 percent return on sales. Target Cost