Exercise 1) WhatchaEatin' produces and sells some tasty TV dinners (Meatloaf, Crab Cake, and a Hot Dog Meal). Last year, WhatchaEatin' sold 7,275 Meatloaf Meals, 2,425 Crab Cake Meals, and 12,125 Hot Dog Meals. Fixed costs during the last year were $21,050. Information on the two products is as follows: Sales Price Variable Cost Ratio Meatloaf Meal S5.40 55% Crab Cake Meal $7.60 65% Hot Dog Meal $4.70 30% Some of the employees at WhatchaEatin' came up with a great idea to add a Veggie Burger Meal & a Fish Stick Mea!! The company estimates that 9,700 Veggie Burger Meals can be sold at a price of $6.55 and a variable cost per unit of $2.23. The company estimates that 14,550 Fish Stick Meals can be sold at a price of S5.15 and a variable cost per unit of $3.07. Fixed cost will be increased by $4,252 due to the addition of the Veggie Burger Meal and by $6,990 for the addition of the Fish Stick Meal. Assume that anticipated sales of other products, as well as their prices and variable costs, will remain the same. Required What is the sales mix of Meatloaf, Crab Cake, Hot Dog. Veggie Burger, and Fish Stick Meals? 2. Compute the break-even quantity of each product assuming the same sales mix. 3. Prepare a contribution margin operating income statement for WhatchaEatin' for the coming year 5. 6. What is the overall contribution margin ratio? What is the margin of safety for the coming year in sales dollars? By how much is WhatchaEatin' better or worse off with the addition of these two tasty meals