CHAPTER 3 HANDOUT - CVP ANALYSIS Cleveland Knowledge Corp. sells a learning system that helps preschool and elementary students learn basic math facts and concepts. The company's contribution margin income statement from last month is as follows (based on 14,000 units sold): DESCRIPTION Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income TOTAL $700,000 $315,000 $385,000 $250,250 $134,750 PER UNIT $50 $22.50 $27.50 PART A: Using the information above, answer the questions in the table below. QUESTION What is Cleveland's contribution margin ratio? What is Cleveland's breakeven in sales dollars? What is Cleveland's breakeven in units? What is Cleveland's margin of safety in units? REQUIRED SHOW YOUR WORK ANSWER