Abraham Company had revenues of $$830,000$ last year with total variable costs of $$647,400$ and fixed costs of $$110,000.$

Required:

$1.$ What is the variable cost ratio for Abraham?

fill in the blank $1$ of $7$

$\%$

What is the contribution margin ratio?

fill in the blank $2$ of $7$

$\%$

$2.$ What is the break$-$even point in sales revenue?

fill in the blank $3$ of $7$$

$3.$ What was the margin of safety for Abraham last year?

fill in the blank $4$ of $7$$

$4.$ Conceptual Connection: Abraham is considering starting a multimedia advertising campaign that is supposed to increase sales by $$12,000$ per year. The campaign will cost $$4,500.$ Is the advertising campaign a good idea?

fill in the blank $5$ of $7$

$,$ the operating income will fill in the blank $6$ of $7$

by fill in the blank $7$ of $7$$

$.$