​ Bag & Baggage Company has a tax rate of 40 per cent. Required: (treat each requirement independently, show all computations) 1. Determine TEBBC's budgeted net profit for the year 2017. (Hint: use contribution margin approach to income statement or variable costing statement). 3 Marks 2. Assuming the sales mix remains as planned, determine how many units of each product TEBBC must sell in order to breakeven in the year 2017. 3 Marks 3. Calculate the following items for TEBBC: a. the projected safety margin in units for the year 2017. 2 Marks b. the projected safety margin in sales dollars for the year 2017. 2 Marks 4. After preparing the original estimates, management determined that the variable manufacturing cost of Backpacks would increase by 20 per cent, and the variable selling cost of Briefcases could be expected to increase by $3.00 per unit. However, management have decided not to change the selling price of either product. In addition, management have learned that Backpacks has been perceived as the best value on the market, and they can expect to sell three times as many Backpacks as each of their other products. Under these circumstances, determine how many units of each product TEBBC would have to sell in order to break even in the year 2017. 5 Marks