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Hang Ten produces sports socks. The company has fxed expenses of $50,000 and variable expenses of $0.60 per package. Each package sells for $1,60. Read the requicements: Requirement 1, Compute the contribution margin per package and the contribution maryin ratio. Begin by identifying the formula to compute the contribution margin per packnge. Then compute the contribution margin per package. (Enter the amount to the nearest oent.) Requirements 1. Compute the controution margin per package and the contribution margin matio: 2. Find the treakeven point in writs and in dolare. 3. Find the number of packages Hang Tea needs to mell fo eam a $25,000 operating income