Gary Holtman is evaluating a businoss opportunity lo soll premium car wax at vintage car shows. The wax is sold in 64 -ounce bubs. Gary can buy the premium wax at a wholesale cost of $2 e per tub. He olans to sell the oremium wax loc $63 oer tub. He essmates ficod costs such as travel costs, bocth rental cast and iodena to be 5770 ber car show. Mequirement 1. Veiermine the number of tubs Gary must seil per show to break even. Begin by identfying the formuls to compute the sales in units at various levels of eperating income using the contrbution margin approach Gary must sell tubs per show to breakeven Requirement za. Detnrmine the sales volume in units necessary to earn the desired profit assuming Cary wants bam a proft or $980 per show. Gary must sel tubs per show to earn a prott of $960 per shew. b. Determine the sales volume in dolars necessary to eam the desired proftr assuming Gary wants to earn a proft of $980 per show Begin by ideotfying the formula to compute the sales volume in dolarn necessary to eam the desied profi. (Do not round intemediary calculations. Round your answer to the nearest whole dollaf) Cary munt achieve sales of to earn a profit of $900 per show c. Using the contribution margin format prepare an income statement (condansed version) to coofem your antwers to parts a and b. Requirement 3. Determine the margin of salety between the sales volume at the breakeven point and the sales volume required to eam the desired profit Delermine the margin of salely in both sales dollars, units, and as a percentage. Begin by identfying the formula to compute the margn of salety in dollars. = Margn of safey in dolars The margin of safety in dolars is Now identfly the formula to compute the margin of salety in units The margin of safefy in unis is units Now idienty the formula to compute the margin of safety as a percentage The margin of salety du a percentage of tappet sales is