Fall 2021 Saved Help Gallop Corporation prepared the following report for the first quarter of this year: Sales ( $2,700 per unit) Less: Cost of goods sold Gross margin Less: Selling expenses Administrative expenses Income $6,480,000 3.262,000 3,218,000 $1,058,400 1.070,000 2,128,400 $1,089,600 Gallop's controller, Nancy Johnstone, studied the costs in detail, particularly focusing on cost behaviour. Her analysis revealed the following: . Fixed portion of the cost of goods sold for the quarter amounted to $1.222.000. . Of the selling expenses. 20% was variable with respect to the number of units. All of the administrative expenses were fixed. Required: 1. Express the cost of goods sold and the selling expenses in terms of cost equations. (Round the "Variable cost" to 2 decimal places.) Cost of goods sold Solling expenses per quarter per quarter Y- 2. Redo the above income statement using a contribution margin approach. (Do not round intermediate calculations.) GALLOP CORPORATION Income Statement For the First Quarter of this Year Less Variable costs S 0 0 Less Fixed expenses 0 5 0 Browser-daunchel https253A%252F%252Fms.meducation.com 52 mgtmiddlewwe257eprodutofino aps What Makes an A 11 Pearson Sign In all 2021 Seved Help Save & Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units the relevant range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin Fixed expenses Net operating Income $ 24,00 13,600 11,200 7.728 5 3,472 Required: What is the break-even point in sales dollats? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) Break even point