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: Line Item Description Estimated Fixed Cost Estimated Variable Cost (per unit sold) Production costs: Direct materials $17 Direct labor 12 Factory overhead $516,100 9 Selling expenses: Sales salaries and commissions 107,300 4 Advertising 36,300 Travel 8,100 Miscellaneous selling expense 8,900 3 Administrative expenses: Office and officers' salaries 104,800 Supplies 12,900 1 Miscellaneous administrative expense 12,000 2 Total $806,400 $48 It is expected that 7,700 units will be sold at a price of $240 a unit. Maximum sales within the relevant range are 10,000 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 Line Item Description Amount Amount Amount $- Select - Cost of goods sold: $- Select - - Select - - Select - Total cost of goods sold Total cost of goods sold Gross profit $Gross profit Expenses: Selling expenses: $- Select - - Select - - Select - - Select - Total selling expenses $ Total selling expenses Administrative expenses: $- Select - - Select - - Select - Total administrative expenses Total administrative expenses Total expenses Total expenses Operating income $Operating income Question Content Area 2. What is the expected contribution margin ratio? (Round to the nearest whole percent.) fill in the blank 1 of 1 % 3. Determine the break-even sales in units and dollars. Units fill in the blank 1 of 2 units Dollars fill in the blank 2 of 2$ 4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? fill in the blank 1 of 1$ 5. What is the expected margin of safety in dollars and as a percentage of sales? Dollars fill in the blank 1 of 2$ Percentage: (Round to the nearest whole percent.) fill in the blank 2 of 2 % 6. Determine the operating leverage. (Round to one decimal place.)