Happy Feet produces sports socks. The company has fixed expenses of $80,000 $0.80 per package. Each package sells for $1.60 and variable expenses of Read the requirements. Requirements iren in pe 1. Compute the contribution margin per package and the contribution margin ratio 2. Find the breakeven point in units and in dollars. cont 3. Find the number of packages Happy Feet needs to sell to earn a $25,000 oute n by operating income. Print Done Begin by identilying the formula to compute the contribution margin per package. Then compute the contribution margin per package. ( - Contribution margin per unit The contribution margin per package is s Compute the contribution margin ratio. (Enter the ratio as a whole percent.) Begin by identifying the formula to compute the contribution margin ratio Contribution margin ratio The contribution margin ratio is Requirement 2. Find the breakeven point in units and dollars Begin by identifying the formula to compute the breakeven sales in units using the contribution margin approach The breakeven point in units is Find the breakeven point in dollars using the contribution margin approach. Begin by identifying the formula to compute the breakeven point in dollars. lor Breakeven sales in dollars The breakeven point in dollars is $ Requirement 3. Find the number of packages Happy Feet needs to sell to earn a $25,000 operating income The number of packages to achieve an operating income of $25,000 is