IHG Company produces widgets. The widgets are sold for $2.00 per unit to wholesalers Unit variable cost are 60 % . For the year 2019, management estimates the following revenues and costs Selling expenses Selling expenses SGA expenses V SGA expenses- fix Sales Direct materials 70,000 75,000 30,000 1.100.000 530,000 460,000 Direct labor Manufacturing overhead- variable Manufacturing overhead -fixed 400,000 80,000 380,000 Instructions: (a) Compute the contribution margin ratio. (Round to the nearest full percent.) Compute the break-even point in dollars (b) Determine the sales dollars required to earn net income of $500,000 (c) (a) Contribution margin ratio Unit contribution margin Unit selling price Contribution margin ratio (b) Break-even point in dollars Fixed costs Contribution margin ratio Break-even point in dollars (c) Sales dollars required to earn target net income Fixed costs Target income Total fixed cost target income Contribution margin ratio Sales dollars required