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ST och Foundation Connect ACC222 Chapter 8 CVP Analysis - Gulee 5 Exercises Help Save & Chech 4 Island Novelties, Inc. of Palau makes two products---Hawalinn Fantasy and Tahitian joy. Each product's selling price, variable expense per unit and annual sales volume are as follows Selling price per unit Variable expense per unit Number of cold antally walan Tantasy 1 30 15 78,000 Tahiti Joy $ 140 35 8.500 Fixed expenses total $850,500 per year, P Required: 1. Assuming the sales mix given above, do the following a. Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole. b. Compute the company's break even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage. ferences 2. The company has developed a new product called Samoan Delight that sells for $60 each and that has variable expenses of $48 per unit. If the company can sell 21.000 units of Samoan Delight without incurring any additional fixed expenses: a. Prepare a revised contribution format income statement that includes Samoan Delight. Assume that sales of the other two products does not change b. Compute the company's revised break-even point in dollar sales. Also, compute its revised margin of safety in dollars and margin of safety percentage Complete this question by entering your answers in the tabs below. M. margin of safety percentage. Saites. Also, compute its revised margin of safety in dollars and ces Complete this question by entering your answers in the tabs below. Req IA Reg 10 Reg 2A Reg 28 Assuming the sales mix given in the question information, do the following: Compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage. (Do not round your intermediate calculations. Round your "Margin of safety percentage" final answer to 1 decimal place (.e 0.1234 should be entered as 12.3). Round your other final answers to the nearest whole dollar) Break-even point in dollar sales Margin of safety in dollars Margin of safety percentage J. dudes Samoan Delight. Assume that sales of the other two products does not change b. Compute the company's revised break even point in dollar sales. Also, computer its revised margin of safety in dollars and margin of safety percentage Complete this question by entering your answers in the tabs below. Raq IA Reg 10 Re 2A Hea 20 The company has developed a new product called Samoan Delight that sells for $60 each and that has variable expenses of $48 per unit. If the company can 21.000 units of Samoan Delight without incurring any additional fixed expenses: Prepare a revised contribution format income statement that indades Samoan beligt. Assume that tales of the other two products does not change. (Found your "Percentage answers to 1 decimal place 0.1234 should be entered a 12:3) Shwe Island Novellenc Contribution Income Stament Hawaiian Fantasy Tahitian Joy Amount Amount Saan Delight Am Total Amount 5 IN 00% 5 0 0 0.0% 0 0% 0.015 $ 0 (Res 18 Reg 28