Exercise 6 of 6: Taveras Industries developed the following information for the product it sells: $50 per unit Sales price Variable cost of goods sold Fixed cost of goods sold Variable administrative expense Variable selling expense Fixed selling expense Fixed administrative expense $28 per unit $650,000 10% of sales price $2.00 per unit $400,000 $300,000 For the year ended December 31, 2016, Taveras produced and sold 100,000 units of product. Instructions: (a) Prepare a CVP income statement using the contribution margin format for Taveras Industries for 2016. (b) What was the company's break-even point in units in 2016? Use the contribution margin technique. (c) What was the company's margin of safety in dollars in 2016? Duration for solving (a), (b) and (c): (12 - 15 min.)