Problem: Freemill Industries supports the entertainment industry with sound and lighting applications. They currently report $60 million in annual sales. Direct labor has attributed 40% of their costs and materials 30%. Overhead is currently estimated at 27% leaving little room for profit. They are looking at reducing overhead to 20% and providing more profit to expand the business. How much will Freemill gain by doing this? (Provide profit percentage and dollar amount in your answer).