Exercise 5-1 (Algo) Computing the CM Ratio and Variable Expense Ratio [LO5-1] Last month when Holiday Creations, Incorporated, sold 38,000 units, its sales, variable expenses, and fixed expenses were $152,000. $107,920, and $38,200, respectively. Required: 1. What is the company's contribution margin (CM) ratio? 2. What is the company's variable expense ratio? Note: Do not round intermediate calculations. Exercise 5-2 (Algo) The Effect of Changes in Unit Sales on Net Operating Income [LO5-2] Whirly Corporation's contribution format income statement for the most recent month is shown below: Required: (Consider each case independently): 1. What would be the revised net operating income per month if the sales volume increases by 100 units? 2. What would be the revised net operating income per month if the sales volume decreases by 100 units? 3. What would be the revised net operating income per month if the sales volume is 6,400 units