I am wondering if I did this correctly. If not can someone tell me where I went wrong.

Blue Corporation expects to sell 18,000 units during 2018. Information on their unit sales is as follows:

Sales Price: $1,200

Variable Costs: $700

Total Fixed Costs: $8,500,000

Calculate the margin of safety for Blue Corporation (show your work). Explain what margin of safety is and why Blue Corporation would care about margin of safety (10%).

Revenue 1,200*18,000= 21,600,000

Variable Costs: 700*18,000=12,600,000

Contribution Margin: 21,600,000-12,600,000=9,000,000

Contribution Margin Ration= 9,000,000/21,600,000=.42

Breakeven Point in Sales Dollars= 8,500,000/.42=20,238,095.24

Margin of Safety= 21,600,000-20,238,095.24=1,361,904.76