Blossom Monograms sells stadium blankets that have been monogrammed with high school and university emblems. The blankets retail for $50 throughout the country to loyal alumni of over 3,500 schools. Blossom's variable costs are 40% of sales; fixed costs are $118,000 per month (1) Your answer is correct Calculate contribution margin ratio. (Round ratio to 2 percentage places, e.g. 0.38 - 38%) Contribution margin ratio 60 % eTextbook and Media Attempts: 1 of 12 used (a2) Your answer is correct. What is Blossom's annual breakeven point in sales dollars? (Use the rounded contribution margin ratio calcuated in the previous part to compute breakeven sales.) Breakeven sales 2.360.000 eTextbook and Media Attempts: 1 of 12 used (b) Your answer is correct Blossom currently sells 103,000 blankets per year. If sales volume were to increase by 15%, by how much would operating income increase? (Round answer to 0 decimal places, e.g. 5,275.) Operating income 463.500 (c) X Your answer is incorrect. Assume that variable costs increase to 45% of the current sales price and fixed costs increase by $15,000 per month. If Blossom were to raise its sales price by 10% to cover these new costs, what would be the new annual breakeven point in sales dollars? (Round sales price to 2 decimal places, e.g. 52.75 and final answer to 0 decimal places, e.g. 5,275.) Breakeven sales $ 2,700.923 eTextbook and Media Save for Later Attempts: 1 of 12 used Submit