In trying to determine how many custom wedding cakes that he needs to sell to break-even or make a profit, Mr. Suncat has requested that you answer several questions for him. Selling price per Custom wedding cake Variable cost per Custom wedding cake Total fixed expenses a. Define and explain the purpose of a contribution margin. $800 $425 $72,500 b. What is meant by contribution margin ratio and how might Mr. Suncat find this ratio useful in making business decisions? Selling price per Custom wedding cake Variable cost per Custom wedding cake $800 $425 $72,500 Total fixed costs c. Using the above information, calculate the following items, being sure to show all calculations and i clearly labeling your answers: 1. Contribution margin per unit 2. Contribution margin ratio (do not round your answer) 3. Break-even point in units