Homework: Chapter 7 Homework (required) core: 0.5 of 1 pt E7-26A (similar to) of 12 complete HW Score: 54.17%, 6.5 of 12 Q Parts The company has many 10000 margin of revenues Ort h 's agent play The stomotive manufacturers %E7-26A (similar to) Griffin's Steel Parts produces parts for the automobile industry. The company has monthly fixed expenses are demanding lower prices, and the steel producers have increased raw material costs. Griffin's contributie Read the requirements. Requirement 1. To maintain this same level of profit, what sales volume (in sales revenue) must Griffin now Begin by identifying the formula to compute the sales in units at various levels of operating income using the Fixed expenses Operating income / Contribution margin ratio - Tar (Round your answer up to the nearest whole dollar.) Griffin must now achieve sales of $ to maintain the same level of profit. 4 of 12(7 complete) HW Score: 54.17%, 6.5 of Question Help fixed expenses of $610,000 and a contribution margin of 80% of revenues. Griffin feels like he's in a giant squeeze play: The automotive manufactur riffin's contribution margin has shrunk to 60% of revenues. The company's monthly operating income, prior to these pressures, was $238,000. ) must Griffin now achieve? g income using the contribution margin approach. nargin ratio = Target sales in dollars wolume (in sales revenue) must Griffin now achieve? various levels of operating income using the contribution margin approach. Contribution margin ratio = Target sales in dollars Requirements n the same 1. To maintain this same level of profit, what sales volume (in sales revenue) must Griffin now achieve? 2. Griffin believes that his monthly sales revenue will only go as high as $1,060,000. He is thinking about moving operations overseas to cut fixed costs. If monthly sales are $1,060,000, by how much will he need to cut fixed costs to maintain his prior profit level of $238,000 per month? Print Done