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CVP Analysis - Case Study QUESTION (1) Patrick Ross has three booth rental options at the county fair where he plans to sell his new product. The booth rental options are: Option 1: $1,400 fixed fee, or Option 2: $1725 fixed fee + 10% of all revenues generated at the fair, or Option 3: 20% of all revenues generated at the fair. The product sells for $25 per unit. He can purchase the units for $11 each ..Compute the breakeven point for each option. What is the margin of safety assuming 1000 are sold, for option (1): QUESTION (2) Nancy's Niche sells a single product. 8,000 units were sold resulting in $80,000 of sales revenue, S16,000 of variable costs, and $10,000 of fixed costs. The contribution margin per unit is? The breakeven point in total sales dollars is: To achieve $100,000 in operating income, sales must total: If selling price decrease by S1 per unit, the new breakeven point is: QUESTION (3) CRITICAL THINKING What is meant by the term breakeven point? Why should a manager be concerned about the breakeven point? Give an example for a business unit