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Crane Company reports the following operating results for the month of August: sales $305,000 (units 5,000); variable costs $220,000; and fixed costs $70,300. Management is considering the following independent courses of action to increase net income. Compute the net income to be earned under each alternative. 1. Increase unit selling price by 10% with no change in total variable costs or sales volume. Net income $ 2. Reduce variable costs to 60% of sales. Net income $ 3. Reduce fixed costs by $21,000. Net income Alternative 3 Alternative 2 Alternative 1 Which course of action will produce the highest net income? What is the weighted-average contribution margin ratio? Weighted-average contribution margin ratio % eTextbook and Media If the company's fixed costs are $501,580 per year, what is the sales dollar amount of each type of candle that must be sold to break even