I need help with all four questions please. Petoskey Electronics Company manufactures specialized products for boats and recreational vehicles using its newly introduced patented engine analytics device. The first-year revenues and costs for the product device are as follows:- **Selling price**: $500 per unit- **Direct materials**: $175 per unit- **Direct labor**: $45 per unit- **Variable manufacturing overhead**: $40 per unit- **Total fixed manufacturing overhead**: $1,600,000- **Variable selling and administrative**: $30 per unit- **Total fixed selling and administrative**: $500,000- **Sales and manufacturing volume**: 25,000 unitsIn the 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 Company decided to file a lawsuit against the competitor for damages (in the form of lost profits) caused by the patent infringement. ## Required Tasks for Analysis1. **Calculate First-Year Profit:** - Determine Petoskey Company’s profit on the product device during its first year of sales.2. **Damage Calculation - Charlevoix Liability:** - Assume Charlevoix Company is liable as claimed in the patent infringement lawsuit by Petoskey Company. - Calculate the damages Petoskey experienced during the second year due to Charlevoix’s patent infringement, using a relevant analysis perspective.3. **Mitigation and Damage Calculation:** - Assume Charlevoix Company’s liability in the lawsuit. - To mitigate damages from Charlevoix’s infringement, Petoskey initiated an advertising program, reducing sales to 17,000 units (from 12,000 units). - The annual cost of the advertising program was $375,000. - Calculate the damages Petoskey Electronic faced in the second year of the new product due to Charlevoix’s infringement, using a relevant analysis perspective.4. **Identify Additional Relevant Items:** - Briefly identify and explain any other relevant or differential items that could be considered in estimating Petoskey Company’s damages.5. **Differential Analysis Explanation:** - Explain how the differential analysis done by the forensic accountant at either Petoskey or Charlevoix Company relates to one of the four data analytic types. Refer to Exhibits 2.5 and 2.6, pages 37 and 40, for a review of data analytics types. These tasks involve legal and financial analysis related to patent infringement and mitigation strategies.

Declaimer: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for you. To get remaining sub-part solved please repost the complete question and mention the sub-parts to be solved.”. Introduction: The money generated by a company's operations is referred to as revenue. Revenue can be calculated in a variety of ways, depending on the accounting technique used. In accrual accounting, credit sales are recorded as revenue for products or services delivered to the client. A "receipt" is a document that proves money has been paid to a company. For example, if a customer pays in advance for a service or goods that have yet to be delivered, this activity results in a receipt but no income The cash flow statement must be examined to determine how efficiently a corporation collects money owed. Cash accounting, on the other hand, considers sales to be revenue only after they have been paid. A "receipt" is a document that proves money has been paid to a company. For example, if a customer pays in advance for a service or goods that have yet to be delivered, this activity results in a receipt but no income .In accrual accounting, credit sales are recorded as revenue for products or services delivered to the client. Answer 1) Petoskey Company’s profit on this product device during the first year it was sold is $3,150,000. Sales (25,000 x 500) $12,500,000 Less: Variable Cost Direct Material (25,000 x 175) $4,375,000 Direct Labor (25,000 x 45) $1,125,000 Variable Manufacturing Overhead (25,000 x 40) $1,000,000 Variable Selling and Administrative (25,000 x 30) $750,000 $7,250,000 Contribution Margin $5,250,000 Less: Fixed Cost Total fixed Manufacturing Overhead $1,600,000 Total fixed Selling and Administrative $500,000 $2,100,000 Profit for the Year $3,150,000Answer 2) Particulars Profit if sales volume is 25,000 Units Profit if salesvolume is 12,000 Units Difference Sales 12,500,000 6,000,000 (6,500,000) Less:- Variable cost Direct material 4,375,000 2,100,000 (2,275,000) Direct labor 1,125,000 540,000 (585,000) Variable manufacturing overhead 1,000,000 480,000 (520,000) Variable selling and administrative 750,000 360,000 (390,000) Contribution 5,250,000 2,520,000 (2,730,0000 Less:- Fixed cost Fixed manufacturing overhead 1,600,000 1,600,000 0 Fixed selling and administrative 500,000 500,000 0 Operating profit 3,150,000 420,000 (2,730,000) So damages experienced by Petoskey company is 2,730,000Answer 3) Particulars Profit if sales volume is 25,000 Units Profit if salesvolume is 17,000 Units Difference Sales 12,500,000 8,500,000 (4,000,000) Less:- Variable cost Direct material 4,375,000 2,975,000 (1,400,000) Direct labor 1,125,000 765,000 (360,000) Variable manufacturing overhead 1,000,000 680,000 (320,0000) Variable selling and administrative 750,000 885,000 135,000 Contribution 5,250,000 3,195,000 (2,055,000) Less:- Fixed cost Fixed manufacturing overhead 1,600,000 1,600,000 0 Fixed selling and administrative 500,000 500,000 0 Operating profit 3,150,000 1,095,000 (2,055,000) So damages experienced by Petoskey company is 2,055,000. Note:- We added additional advertising cost in variable selling and administrative costs. It will not impact the end result even if we consider it as fixed advertisement cost.

Business

Accounting

Petoskey Electronics Company manufactures specialized products for boats and recreational vehicles using it newly introduced patented engine analytics device. The first-year revenues and costs for the product device are as follows: Selling price $500 per unit Direct materials $175 per Direct labor $45 per unit Variable manufacturing overhead $40 per unit Total fixed manufacturing overhead $1,600,000 Variable selling and administrative $30 per unit Total fixed selling and administrative $500,000 Sales and manufacturing volume 25,000 units unit The 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 Compan decided to file a lawsuit against the competitor for damages (in the form of lost profits) caused by the patent