For the last year, Magway, Inc. had sales revenue of $4,300,000, with each unit selling for $50.

Direct Materials were $774,000.

Direct Labor was $967,500.

Manufacturing overhead was $301,000.

Fixed costs were $2,152,500.

1. How many units were sold for the year?
2. What are the following?
   1. Variable costs per unit;
   2. Contribution margin per unit;
   3. Contribution Margin Ratio; and
   4. Current net income (total)
3. What are the following?
   1. Break-even units;
   2. Break-even dollars;
   3. Margin of safety units; and
   4. Margin of safety dollars
4. If Magway raises the price to $55 per unit, they will keep 92% of their customers.
   1. If their goal is to reduce their break-even, should they raise the price? Why or why not? FULLY EXPLAIN.
   2. What will be the new sales revenue?
   3. What will be the new net income?