Isiand Novelties, Incorporated, of Palau makes two products-Hawalian Fantasy and Tahitian Joy. Each product's selling price, variable expense per unit and annual sales volume are as follows: Fixed expenses total $652,400 per year. Required: 1. Assuming the sales mix given above, do the following: a. Prepare a contribution format income statement showing both dollar and percent columnt for each product and for the company as a whole. b. Compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage. 2. The company has developed a new product called Samoan Delight that sells for $50 each and that has varlable expenses of $40 per unit. If the company can sell 12,500 units of Samoan Delight without incurring any additional fixed expenses: a. Prepare a revised contribution format income statement that includes Samoan Delight. Assume that sales of the other two products does not change. b. Compute the company's revised break-even point in dollar sales. Also, compute its revised margin of safety in dollars and margin of safety percentage. Assuming the sales mix given above, do the following: Prepare a contribution format income statemnt showing both doliar and percent columns for each product and for the company as a whole. Assuming the sales mix given above, do the following: Compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage. Note: Do not round your intermediate calculations. Round your "Margin of safety percentage" final answer to 1 decimal place (i.e 0.1234 should be entered as 12,3 ). Round your other final answers to the nearest whole dollar. Show less A The company has developed a new product called Samoan Delight that sells for $50 each and that has variable expenses of $40 per unit. If the company can sell 12,500 units of Samoan Delight without incurring any additional fixed expenses: Prepare a revised contribution format income statement that includes Samoan Delight. Assume that sales of the other two products does not change. Note: Round your "Percentage" answers to 1 decimal place (i.e 0.1234. should be entered as 12.3 ). Complete this question by entering your answers in the tabs below. The company has developed a new product called Samoan Delight that sells for $50 each and that has varlable expenses of $40 per unit. If the company can sell 12,500 units of Samoan Delight without incurring any additional fixed expenses: Compute the company's revised break-even point in dollar sales. Also, compute its revised margin of safety in dollars and margin of safety percentage. Note: Do not round your intermediate calculations. Round your "Margin of safety percentage" final answer to 1 decimal place (1.e 0.1234 should be entered as 12.3 ). Round your other final answers to the nearest whole dollar