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 Selling price per unit Variable pene per unit Number of units sold annually Hewan Fantasy $ 20 13 15,000 Tahitian $ 125 5e Fixed expenses total $325,000 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, computers 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 $45 each and that has variable expenses of $27 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 Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Reg 2A Reg 20 Assuming the sales mix given in the question information, do the following: Propare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole. Island Novelties, Inga Contribution Income Statement Hawaiian Fantasy Tahitian Joy Amount Amount 96 Total Amount 96 % n ni Alo n ne 2 The company has developed a new product called Samoan Delight that sells for $45 each and that has variable expenses of $27 per unit if the company can sell 12.500 units of Samoan Delight without incurring any additional foed expenses 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 Complete this question by entering your answers in the tabs below. Reg 1A Reg 10 Reg 2 Reg 2 Assurning the sales mix given in the question information, do the following: Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole. Island Novelties, Inc Contribution Income Statement Hawaiian Fantasy Tahiti Joy Amount Amount Total Amount $ 0 0% 5 OS 0% 0 Req 18 > 4 Island Novelties, Ine of Palau makes two products--Hawaan Fantasy and Tahitian Joy. Each product's selling price, variable expense per unit and annual sales volume are as follows: allan heiti so 5 13 5 $ 20 1 Selling price per unit Variable expense per unit amber of units sold annually Pred expenses total $325,000 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 $45 each and that has variable expenses of $27 per unit. If the company can sell 12,500 units of Samoan Delight without incurring any additional foed 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 Complete this question by entering your answers in the tabs below. Heq 1A Reg 13 Red 2A Req 28 Assuming the sales mix given in the question information, do the followingCompute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage (Do not round your Intermediate calculations. Round your "Margin of safety percentage final answer to 1 decimal place tl. 0.1234 should be entered as 123). Round your other fiat answers to the nearest whole dollar) Break-even point in dollar sales Margin of safety in dollars Margin of safety percentage POLA ROZA *** 4 Fored expenses total $325.000 per year Required: Asuming the ever bove, do the following a Prepare a contribution forms income statement showing both doll and percent columns for each product and for the companys a whole Compute the company break even point in dotare Also, compute its margin of safety in domas andes margin of safety percentage 2. The company has developed a new product called Samoan Delight that sells for $45 each and that has variable expenses of $27 per un it the company cane 12.500 units of Samoan Delight without incurring any additional fored expenses Prepare a sed contribution format income statement that includes Samoan Delight Assume that sales of the other two products does not change Compute the company's revised break even point in dollars. Al compute its revised margin of safety in dollars and margin of safety percentage Complete this question by entering your answers in the tabs below R1 2A The company has developed a new product called Samoan Det that sells for $45 sach and that has variable expenses of $27 per unit. If the company can 12.500 units of Samoan Delight without coming any additional fled expenses Proteavised contribution format income statement that includes Samoan Delight Asume that sales of the other two product does not change and your "Percentagewerkte de 0.1774 should be entered 103).) Island Now Common Incow Statement Hws Amour Amount 90 Total Samoan be Am Am 0 $ DO 0 DOS 00% 5 0