Griffin's Steel Parts produces parts for the automobile industry. The company has monthly foxed costs of $540,220 and a contribution margin of 85% of revenues Read the contement Requirement 1. Compute Griffin's monthly breakoven sales in dollars. Use the contribution margin ratio approach Select the labels and enter the amounts to calculate the breakeven point in dollars using the contribution margin approach (Enter a "0" for any zero amounts. Round you answer to the nearest dollar Abbreviation used. CM = contribution margin) - Required sales in dollar ) Requirement 2. Use contribution margin Income statements to compute Crimeru monthly operating income or operating loss I revenues are 5510,000 and if they are $1,020,000 Begin by selecting the label for the contribution margin income statement. Then enter the amounts and calculate operating income or loss when revenues are $510,000 Then in the next step, calculate operating income or loss when revenues are $1,020,000 (Une a minus signor parentes for a fos) Griffin's Steel Parts Contribution Margin income Statement Revenues are 510,000 $1,020,000 Revenues are $ Operating income (Loss) Requirement 3. Do the results in Requirement 2 make sense given the breakeven sales you computed in Requirement 1? Explain. The results in Requirement 2 make sense given the bresleven sales computed in Requirement 1 Given to break even point of It is logical that sales above the breatoeven point will result in and sates below the breakeven point will retutin