Direct Labor $1,500 Direct Materials 1,400 Factory Overhead (variable) 1,000 Selling Expenses (variable) 600 Administrative Expenses (variable) 500 Total Variable Expenses 5.000 Contribution Margin $5,000 Fixed Costs: Factory Overhead (fixed) $500 Selling Expenses (fixed) 1,000 Administrative Expenses (fixed) 1.000 Total Fixed Expenses 2.500 Net Income (aka Operating Income) $2.500 Bravo utilizes a JIT production system and there are no Raw Materials, Work-in- Process or Finished Goods inventories. Bravo Company expects that all costs will remain the same for FY 2017 with the exception of fixed factory overhead which is budgeted to increase by $1,700. Use this information to determine: 1. FY 2016 Cost of Goods Sold 2. FY 2016 breakeyen point in units For the Year Ended 12/31/16 Sales (100 units) $10,000 FI Variable Costs: Direct Labor $1,500 Direct Materials 1,400 Factory Overhead (variable) 1,000 Selling Expenses (variable) 600 Administrative Expenses (variable) 500 Total Variable Expenses 5.000 $5.000 Contribution Margin Fixed Costs: Factory Overhead (fixed) $500 Selling Expenses (fixed) 1,000 Administrative Expenses (fixed) 1.000 Total Fixed Expenses 2.500 Net Income (aka Operating Income) $2.500 Bravo utilizes a JIT production system and there are no Raw Materials. Work-in- Process or Finished Goods inventories. Bravo Company expects that all costs will remain the same for FY 2017 with the exception of fixed factory overhead which is budgeted to increase by $1.700. Use this information to determine: 1. FY 2016 Cost of Goods Sold 2. FY 2016 breakeven point in units