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Brea keven Analysis/Target Sales Although business was off to a great start in January, Rich realized that he would need to be profitable in order to continue as a viable business. He discussed the subject of profitability with Adrian who suggested that he needs 0 determine his breakeven point in both sales and dollars. He explained that break even is the point where all costs are covered by sales and so, prot is equal to zero. He also suggested that the company should establish monthly target profitability in order to determine the amount of cakes it would need to sell to achieve this level. Since Rich didn't know how to perform this calculation and in order to save money, he asked you to calculate the company's breakeven point and the target sales needed to achieve a monthly profit of $500. Required: Calculate S 81 S Bakery's breakeven point in both units and sales dollars. Also, calculate the sales needed in order to achieve a monthly profit of 5500. (Note: Use four decimal places in converting from total to per unit cost). Break Even Analysis/Target Sales January 2017 Sales Variable Expenses Contribution Margin Fixed Expenses Net Operating Income Contribution Margin/Sales Break Even in Unit Sales: Fixed expenses/CM unit Break even in dollars: Fixed expenses/CM ratio Sales Price x Break Even per unit Target Sales in Units: Fixed expenses+profit/CM per unit Target Sales in Dollars: Fixed expenses + Profit/CM ratio Sales price x Target sales per unit 1 unit Ratio: Actual: Ca kes: Actual: Per Cake: Actual Per ca ke COST INFORMATION ITEM AND INGREDIENTS COST STANDARD PER CAKE Conventional Oven $6,000 [depreciated over n/a 5 years on a SL basis No salvage] Refrigerator $0 [provided by landlord) Baking pans, licenses $0 [paid by dad) Baking our $24 per 8 lb. bag 1 pound Eggs $2 dozen 4 eggs Sugar $15 per 25 lb. bag 1 lb. Baking soda $6 per 14 lb. box Butter $6.50 per 4 lb. 1 lb. Raisins $8 per 2 lbs. 1%; lb. Others [cinnamon. yeast, $30 for all 3 boxes per walnuts] month Cash register $12 per month [rental for 2 years] Utilities [includes gas, $50 month electric, and water] Mobile phone [business] $50 month Salary Rich $500 month Wages Michelle/Jen $8 hr. 1 person 1.5 hours Salary Fern $100 month Accountant $100 month Estimated MOH $4 per cake