Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Fixed Cost Estimated Variable Cost (per unit sold) Production costs: Direct materials $26 Direct labor 17 Factory overhead $510,100 13 Selling expenses: Sales salaries and commissions 106,000 6 Advertising 35,900 Travel 8,000 Miscellaneous selling expense 8,800 5 Administrative expenses: Office and officers' salaries 103,600 Supplies 12,800 2 Miscellaneous administrative expense 11,840 3 Total $797,040 $72 It is expected that 11,480 units will be sold at a price of $180 a unit. Maximum sales within the relevant range are 14,000 units. Required: Question Content Area 1. Prepare an estimated income statement for 20Y7. Belmain Co. Estimated Income Statement For the Year Ended December 31, 20Y7 $- Select - Cost of goods sold: $- Select - - Select - - Select - Cost of goods sold fill in the blank eb82d8002fa6077_9 Gross profit $fill in the blank eb82d8002fa6077_10 Expenses: Selling expenses: $- Select - - Select - - Select - - Select - Total selling expenses $fill in the blank eb82d8002fa6077_19 Administrative expenses: $- Select - - Select - - Select - Total administrative expenses fill in the blank eb82d8002fa6077_26 Total expenses fill in the blank eb82d8002fa6077_27 Income from operations $fill in the blank eb82d8002fa6077_28 Question Content Area 2. What is the expected contribution margin ratio? Round to the nearest whole percent. fill in the blank 6d19fb04a00e06a_1 % 3. Determine the break-even sales in units and dollars. Units fill in the blank 6d19fb04a00e06a_2 units Dollars fill in the blank 6d19fb04a00e06a_3 units 4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? $ fill in the blank 6d19fb04a00e06a_4 5. What is the expected margin of safety in dollars and as a percentage of sales? Dollars: $fill in the blank 6d19fb04a00e06a_5 Percentage: (Round to the nearest whole percent.) fill in the blank 6d19fb04a00e06a_6 % 6. Determine the operating leverage. Round to one decimal place. fill in the blank 6d19fb04a00e06a_7