Hinton's Beanery is a locally owned specialty food product company in Northeast Ohio that has been in existence for over 30 years. Its products include flavored coffees and teas, dips, dressings, sauces, and seasonings. (Click the icon to view additional information.) Each of the shows that Hinton's attends has a different booth rental fee. Booth rental fees can range from $400 to $6,500 for each show. Assume that the booth rental fee at the Great Big Home + Garden Show is $1,960 for the ten-day show and that Hinton's has an average contribution margin ratio of 20% on its products. Read the requirements. Requirement 1. How much in sales does Hinton's need to break even on the Great Big Home + Garden Show, assuming that the booth rental fee is the only fixed cost of the show? Identify the formula and then compute the breakeven point in dollars. (Complete all answer boxes. Enter a "0" for any zero amounts. Enter ratios, if any, as a decimal to two places, X.XX.) Fixed expenses Operating income Breakeven sales Contribution margin per unit = in dollars Requirements 1. How much in sales does Hinton's need to break even on the Great Big Home + Garden Show, assuming that the booth rental fee is the only fixed cost of the show? 2. The Great Big Home + Garden Show runs for ten days. How much, on average, must Hinton's sell each day of the show to break even? 3. Assume that 100,000 people visit the home and garden show each year spread evenly throughout the ten-day period. If 6% of the attendees purchase from Hinton's at the show, how much must each customer purchase from Hinton's for the company to break even on the booth rental fee? 4. Assume now that Hinton's wants to make a target profit of $3,000 for the Great Big Home + Garden Show. What sales volume will allow Hinton's to achieve this target profit? - X