ACC 320 Assignment 2 CVP question LEE company has provided the following information about the company $178000 Sales [1200 units] Manufacturing Overhead (Fixed) $ 28000 $ 20000 Manufacturing Overhead (Variable) Selling cost [variable Selling cost [fixed] $ 19600 $ 12000 Variable admin expenses $ 24500 Fixed admin expenses $ 15000 Capacity of producing 6000 units Units produced 8500 units REQUIRED 1. Calculatethe net income using contribution approach 2. Find CM per unit and the CMR 3. Determine the breakeven point in units and dollars 4. Calculate margin of safety in dollars and in percentage. 5. The sales manager believes that a project of the company could increase sales by 20% but variable cost will also increase by $15000 and fixed cost will increase by $ 25000. Should the company accept the project or reject ? 6. Determine the sales revenue necessary to generate before tax profit of $55,000 7. Determine sales revenue necessary to generate after-tax profit of $37000 if tax rate is 20% 8. Calculate degree of leverage (DOL) and if sales increases by 15%, what will be the increase in net income of this company. [use original data in the beginning)