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16) Sebree Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (7,000 units) Variable expenses Contribution margin Fixed expenses Net operating income 280,000 168,000 112,000 105,600 6,400 Using the degree of operating leverage, the estimated percent increase in net operating income as the result of a 5% increase in sales is closest to: (Round your intermediate caleculations to 1 decimal place.) A) 0.29 % B) 87.50% C) 0.11% D) 218.75% 17) Newham Corporation produces and sells two products. In the most recent month, Product R10L had sales of $28,000 and variable expenses of $6,440. Product X96N had sales of $22,000 and variable expenses of $7,560. The fixed expenses of the entire company were $32,710. The break-even point (in dollar sales) for the entire company is closest to: A) $32,710 B) $45,431 C) $46,710 D) $17,290 18) If the contribution margin is not sufficient to cover fixed expenses: A) total profit equals total expenses. B) contribution margin is negative. C) a loss occurs. D) variable expenses equal contribution margin. 19) Which of the following is correct? The break-even point occurs on the CVP graph where: A) total profit equals total expenses. B) total profit equals total fixed expenses. C) total contribution margin equals total fixed expenses. D) total variable expenses equal total contribution margin