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: awasan Fantasy 12 $ 36,909 Tahition Joy 5 Selling price per unit Variable expere per unit Number of units sold annually 120 5 400 Fixed expenses total $437.000 per year Required: 1. Assuming the sales 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 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 12.000 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 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 Reg IA Ren 15 Red 2A Reg 28 Assuming the sales mix given above, 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 Tahitian Joy Amount 54 Amount Total Amount 54 % 9 % % Fig1 Reg 1B > Complete this question by entering your answers in the tabs below. Req 1A Reg 18 Reg 2A Reg 28 Assuming the sales mix given above, compute 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 (le 0.1234 should be entered as 12.3). Round your other final answers to the nearest whole dollar) Break-even point in dollar sales Margin of safoty n dollars Margin of safety percentage Complete this question by entering your answers in the tabs below. -Reg 1A Big 1 Reg 2A 20 The company has developed a new product called Samoan Delight that sells for $45 each and that has variable expenses of $27 per unit the company can set 17,000 units of Samoan Delight without incurring any additional fed expenses. Prepare a revised contribution format income statement that includes Samoan Delight Assume that sales of the other two products does not change Cound your contenteers to 1 decimal place (0,124 should be entered a 1931.) Show In Island Noveltits, Inc. Contribution income tant Han Fantasy Tahitian Joy Amount Amoont Total Samoan Delight Amount Amount Assuming the sales mix given above, compute 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 (1.6 0.1234 should be entered as 12.3). Round your other final answers to the nearest whole dollar.) Break-even point in dollar sales Margin of safety in dollars Margin of safety percentage 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 sel 12,000 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 (1.4 0.1234 should be entered as 12.3).) Show less Island Novalties, Inc Contribution Income Statement Hawaiian Fantasy Tahitian Joy Amount Amount Total Samoan Delight Amount Amount 5 19 00 $ O 5 D 005 0 00 0 00 $ 0 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 12,000 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 (l.e 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 safety in dollars Margin of safety percentage