Required informationProblem 13-38 Target Costing in a Service Firm (LO 13-1)[The following information applies to the questions displayed below.]UR Safe Systems installs home security systems. Two of its systems, the ICU 100 and the ICU 900, have thesecharacteristics:ICU 900Cost Data$ 119/ea$ 35/ea$ 19/ea$ 5/eaS 16/eaDesign SpecificationsVideo camerasICU 1003.Video monitorsMotion detectors4Floodlights3Alarms3740 ft.WiringInstallation1,140 ft.30 hr$0.3/ft.12 hr$ 12/hrThe ICU 100 sells for $950 installed, and the ICU 900 sells for $1,660 installed.Part 1Required:1. What are the current profit margin percentages on both systems?2. UR Safe's management believes that it must drop the price on the ICU 100 to $890 and on the ICU 900 to $1,530 to remaincompetitive in the market. Recalculate profit margin percentages for both products at these price levels and then compute the targetcost needed for each product to maintain the current profit margin percentages.(For all requirements, round your percentage answers to 2 decimal places and other answers to the nearest whole dollar amount.)ICU 100ICU 90020.74 %14.18 %1.Current profit margin2.20.90 %%Profit marginTarget cost$1.210:

Design Specifications Video cameras Video monitors Motion detectors ICU 100 ICU 900 Cost Data $ 119/ea $ 35/ea $ 19/ea $ 5/ea $ 16/ea $0.3/ft. 1 3 4 Floodlights Alarms 3 5 3 Wiring Installation 740 ft. 1,140 ft. 30 hr $ 12/hr 12 hr The ICU 100 sells for $950 installed, and the ICU 900 sells for $1,660 installed. 210 m5

Design Specifications Video cameras Video monitors Motion detectors ICU 100 ICU 900 Cost Data $ 119/ea $ 35/ea $ 19/ea $ 5/ea $ 16/ea $0.3/ft. 1 3 4 Floodlights Alarms 3 5 3 Wiring Installation 740 ft. 1,140 ft. 30 hr $ 12/hr 12 hr The ICU 100 sells for $950 installed, and the ICU 900 sells for $1,660 installed. 210 m5

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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