Island Novelties, Inc., of Palau makes two products-Hawaiian Fantasy and Tahitian Joy. Each product's selling price, variable expense per unit and annual sales volume are as follows: Tahitian Joy Selling price per unit Variable expense per unit Number of units sold annually alian Fantasy $ 28 $ 9 18, ese $ $ 140 35 6, ege Fixed expenses total $710,700 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 columns 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 $60 each and that has variable expenses of $48 per unit. If the company can sell 15.000 units of Somoon Delight without incurring any additional fixed expenses: 2. Prepare o 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. Complete this question by entering your answers in the tabs below. Red 1A Reg 16 Reg 2A Req 2B The company has developed a new product called Samoan Delight that sells for $60 each and that has variable expenses of $48 per unit. If the company can sell 15,000 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. (Round your "Percentage answers to 1 decimal place (ie 0.1234 should be entered as 12.3).) Show less Bland Novelties, Inc.. Contribution income Statement Hawaiian Fantasy Tahitian Joy Amount % Amount % IS 360,000 100.0% 5 840,000 100.0 % 162.000 45.0% 210.000 25.0 % IS 198.000 55.0 % S 630,000 75.0 Samoan Delight Amount 56 S 600,000 100.0% Total Amount 56 on 100.0% Sales Variable expenses S 800.000 100.0% 1,200,000 100.0% Contribution margin Fixed expenses Net operating income 1.200.000 Island Novelties, Inc., of Palau makes two products-Hawaiian Fantasy and Tahitian Joy. Each product's selling price, variable expense per unit and annual sales volume are as follows: Hawaiian Tahitian Joy Fantasy $ 20 $ 148 Selling price per unit Variable expense per unit Number of units sold annually 18,08 6, 2 Fixed expenses total $710,700 per year. Required: 1. Assuming the soles mix given above, do the following: o. Prepare a contribution format income statement showing both dollar and percent columns 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 morgin of safety percentage 2. The company has developed a new product called Samoan Delight that sells for $60 each and that has variable expenses of $48 per unit. If the company can sell 15.000 units of Somoon Delight without incurring any additional fixed expenses: o. Prepare o revised contribution format income statement that includes Somoon 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. Complete this question by entering your answers in the tabs below. Red 1A Reg 1B Reg 2A Red 2B The company has developed a new product called Samoan Delight that sells for $60 each and that has variable expenses or 548 per unit. If the company can sell 15,000 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. Do not round your intermediate calculations. Round your "Margin of safety percentage final answer to 1 decimal place ile 0.1234 should be entered as 12.3). Round your other final answers to the nearest whole dollar.) Show less Break-even point in dollar sales Margin of sulty in dollars Margin of safety percentage ( Req 24 F