Happy Feet produces sports socks. The company has fixed expenses of $95,000 and variable expenses of $0.95 per package. Each package sells for $1.90. Read the requirements. Requirement 1. Compute the contribution margin per package and the contribution margin ratio. Begin by identifying the formula to compute the contribution margin per package. Then compute the contribution margin per package. (Enter the amount to the nearest cent.) Sales price per unit Variable cost per unit = Contribution margin per unit The contribution margin per package is $ 0.95 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 per unit + The contribution margin ratio is 50 %. Sales price per unit = Contribution margin ratio 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. + Fixed expenses Operating income The breakeven point in units is 361000 )+ Contribution margin per unit = Breakeven sales in units Requirements 1. Compute the contribution margin per package and the contribution margin ratio. 2. Find the breakeven point in units and in dollars. 3. Find the number of packages Happy Feet needs to sell to earn a $28,500 operating income. Print Done