I need help with the last two questions. Thank you! Petoskey Electronics Company manufactures specialized products for boats and recreational vehicles using itsnewly introduced patented engine analytics device. The first-year revenues and costs for the product deviceare as follows:Selling price $500 per unitDirect materials $175 per unitDirect labor $45 per unitVariable manufacturing overhead $40 per unitTotal fixed manufacturing overhead $1,600,000Variable selling and administrative $30 per unitTotal fixed selling and administrative $500,000Sales and manufacturing volume 25,000 unitsThe second year the product device was available, Petoskey Company sold only 12,000 units of its device,because a competitor, Charlevoix Supply Company, produced and sold an identical device. Petoskey Companydecided to file a lawsuit against the competitor for damages (in the form of lost profits) caused by the patentinfringement. REQUIRED:1.) Calculate Petoskey Company's profit on this product device during the first year it was sold.2.) Assume that Charlevoix Company is liable as alleged by Petoskey Company in the patent infringementlawsuit. Using a relevant analysis perspective, calculate the amount of damages that Petoskey Companyexperienced during the second year of the new product device as a result of Charlevoix's patent infringement.3.) Assume that Charlevoix Company is liable as alleged by Petoskey Company in the patent infringementlawsuit. Also, in an effort to mitigate the damages caused by Charlevoix's patent infringement, Petoskeycreated an advertising program that resulted in sales decreasing to only 17,000 units (rather than the 12,000units stated above). The annual cost of the advertising program was $375,000. Using a relevant analysisperspective, calculate the amount of damages that Petoskey Electronic experienced during the second year ofthe new product device as a result of Charlevoix's patent infringement.4.) Briefly identify and explain any other relevant (or differential) items that might be included in estimatingPetoskey Company's damages.5.) Briefly explain how the differential analysis conducted by the forensic accountant at either PetoskeyCompany or Charlevoix Company relates to one of the four data analytic types (see Exhibits 2.5 and 2.6, pp.37, 40, for a review of data analytics types.)

As per rule, allowed to answer first three subparts and post the remaining in the next submission.…

Answered: $500 per unit ials $175 per unit $45…

$500 per unit ials $175 per unit $45 per unit nufacturing overhead $40 per unit nanufacturing overhead $1,600,000 ing and administrative $30 per unit

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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