Grover's Steel Pants produces parts for the automobile industry. The company has monthly feed costs of S000.000 and a contribution margin of 75% of revenues. Read the requirements Requirement 1. Compute Grover's monthly breakeven 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 "O" for any zero amounts. Round your answer to the nearest dolar. Abbreviation used: CM - contribution margin.) = Required sales in dollars Requirement 2. Use contribution margin income statements to compute Grover's monthly operating income Begin by selecting the labels for the contribution margin income statement. Then enter the amounts and cele X 0 - Requirements erating income or loss when revenues are $1 030 000 Use a minus sign or parentheses for a loss Grover's Steel Parts Contribution Margin Income Statement Revenues are Revenues are $ 1,030,000 $ 540,000 1. Compute Grover's monthly breskeven sales in dollars. Use the contribution margin rato approach. 2. Use contribution margin income statements to compute Grover's monthly operating income or operating loss revenues are $540,000 and if they are $1.030.000 3. Do the results in Requirement 2 make sense given the breakeven sales you computed in Requirement 1? Explain. Print Done Operating Income (Loss) ------- - - -- - ---- -- - --- - - - - - - - Grover's Steel Parts produces parts for the automobile industry. The company has monthly fried costs of $880,000 and a contribution margin of 75% of revenues. Read the recl rements Requirement 1. Compute Grover's monthly breskeven sales in dolars. 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 'O' for any zero amounts. Round your answer to the nearest dollar. Abbreviation used: CM - contribution margin.) = Required sales in dollars Requirement 2. Use contribution margin income statements to compute Grover's monthly operating income or operating loss ifrerenues are $540,000 and if they are $1.030,000 Begin by selecting the labels for the contribution margin income statement. Then enter the amounts and calculate operating income or loss when revenues are $540,000. Then in the next step, calculate operating income or loss when revenues are $1,030,000. (Use a minus sign or parentheses for a loss) Grover's Steel Parts Contribution Margin Income Statement Revenues are Revenues are $ 540,000 $ 1,030,000 Operating Income (LOSS) Requirement 3. Do the results in Requirement 2 malce sense given the breakeven sales you computed in Requirement 1? Explain. Requirement 2. Use contribution margin income statements to compute Grover's monthly operating income or operating loss if revenues are 5540,000 and if they are $1.030.000 Begin by selecting the labels for the contribution margin income statement. Then enter the amounts and calculate operating income or loss when revenues are 3540,000. Then in the next step, calculate operating income or loss when revenues are $1 030 000. (Use a minus sign or parentheses for a loss.) Grover's Steel Parts Contribution Margin Income Statement Revenues are Revenues are S 540.000 $ 1.030.000 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 Given the breakeven point of make sense given the breakeven sales computed in Requirement 1. it is logical that sales above the breakeven point will result in and sales below the breakeven point will result in Choose from any list or enter any number in the input fields and then continue to the next