Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage 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 $15 Direct labor 10 Factory overhead $412,900 8 Selling expenses: Sales salaries and commissions 85,800 3 Advertising 29,000 Travel 6,500 Miscellaneous selling expense 7,100 3 Administrative expenses: Office and officers' salaries 83,900 Supplies 10,300 1 Miscellaneous administrative expense 9,620 2 Total $645,120 $42 It is expected that 8,320 units will be sold at a price of $168 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 $- Select - Cost of goods sold: $- Select - - Select - - Select - Cost of goods sold fill in the blank Gross profit $fill in the blank Expenses: Selling expenses: $- Select - - Select - - Select - - Select - Total selling expenses $fill in the blank 0b8b73098fbffd9_19 Administrative expenses: $- Select - - Select - - Select - Total administrative expenses fill in the blank 0b8b73098fbffd9_26 Total expenses fill in the blank 0b8b73098fbffd9_27 Income from operations $fill in the blank 0b8b73098fbffd9_28 Question Content Area 2. What is the expected contribution margin ratio? Round to the nearest whole percent. fill in the blank c3e077fe0f9d02e_1 % 3. Determine the break-even sales in units and dollars. Units fill in the blank units Dollars fill in the blank units 4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? $ fill in the blank 5. What is the expected margin of safety in dollars and as a percentage of sales? Dollars: $fill in the blank Percentage: (Round to the nearest whole percent.) fill in the blank 6. Determine the operating leverage. Round to one decimal place. fill in the blank