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Question 1 [30 marks) Harvest Bhdmakes a product which has the following costs: Variable production cost RM24 per unit Variable non-production cost RM8 per unit Fixed costs RM122,400 per annum The product sells for RM50 and the current volume of output and sales is 8,500 units per annum (c) Calculate the margin of safety (in units, RM and %). (3 marks) The company proposes to install a new equipment in order to improve its production. The installation of the new equipment will reduce its variable production cost by 25%, however, the fixed costs will increase from the present level of RM122,400 to RM159,000 (d) Calculate the new break-even point (in units and RM) if the new equipment is installed (5 marks) (e) Calculate the new annual profit with the new equipment if the current sales remain at 8,500 units per annum (3 marks) (f) Calculate the new margin of safety (in units, RM and nearest %) with the new equipment based on the budgeted sales of 8,500 units. (3 marks) (g) Calculate the sales required (in RM) if the C/S ratio is 30% and the profits are RM22,500 based on the new variable production costs and new fixed costs.(3 marks) (3 (h) Explain briefly the term "break-even point" and "margin of safety respectively. marks) (1) State whether the company should install the new equipment, and explain in terms of (1) the break-even point, (ii) the profit earned from which sales unit onwards, and (111) the margin of safety, which have been calculated above