IN-CLASS EXERCISE-CH5-1 FALL 2022/2023 EX1: IDEA Inc, produces and sells a single product. In preparing for next year's operations, management has developed the following estimates: Required: 1. Prepare a budgeted income statement using the contribution margin format 2. Unit contribution margin. 3. Contribution margin ratio. 4. Break-even in sales dollars. 5. Required sales in units if the company desires a target operating income of JD 6. If the sales volume increases by 20% with no change in total fixed expenses, what will be the change in net operating income? 7. If the per unit variable production costs increase by 15%, and if fixed selling and administrative expenses increase by 12%, what will be the new break-even point in sales dollars