Cost Volume-Profit Analysis 1127 E20-29 Computing breakeven sales and operating income or loss under Learning Objectives 2,3 different conditions Gilbert's Steel Parts produces parts for the automobile industry. The company has 2. $1,050,000 sales level VC $157,500 monthly fixed costs of $640,220 and a contribution margin of 85% of revenues. Requirements I. Compute Gilbert's monthly breakeven sales in dollans. Use the contribution margin 2. Use contribution margin income statements to compute Gilbert's monthly ratio approach. operating income or operating loss if revenues are $500,000 and if they are $1,050,000 Do the results in Requirement 2 make sense given the breakeven sales you computed in Requirement 1P Explairn 3. Learning Objective 3