Island Novelties, Inc., of Palou makes two products-Howalian 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 expense per unit Number of units sold annually Hawaiian Fantasy $ 16 $ 8 24,000 Tahitian Joy $ 120 $ 42 6,480 Fixed expenses total $580,500 per year. Required: 1. Assuming the sales mix given above, do the following: 6. 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 Samoon Delight that sells for $40 each and that has variable expenses of $32 per unit. If the company can sell 11,200 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 sofety in dollars and margin of safety percentage Complete this question by entering your answers in the tabs below. RIA Reg 10 Reg 2A Reg 20 Assuming the sales mix given above, 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, in 2. The company has developed a new product called Samoan Delight that sells for $40 each and that has variable expenses of $32 per unit. If the company can sell 11,200 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 Req 28 Assuming the sales mix given above, 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 Hawalian Fantasy Tahitian Joy Amount % Amount % % Total Amount % % % % % % Reg 10 > 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 $40 each and that has variable expenses of $32 per unit. If the company can sell 11.200 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 26 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. (Do not round your intermediate calculations. Round your "Margin of safety percentage final answer to 1 decimal place (1 0.1234 should be entered as 12.3). Round your ) Break even point in dollar no es Margin of safety in dollars Margin of namety percentage (Reg 1 Reg 2A > as a whole b. Compute the company's break-even point in dollar sales. Also, compute its mergin of safety in dollars and its margin of safety percentage 2. The company has developed a new product called Samoan Delight that sells for $40 each and that has variable expenses of $32 per unit. If the company can sell 11,200 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 10 Res 2 Req 25 The company has developed a new product called Samoan Delight that sells for $40 each and that has variable expenses of $32 per unit. If the company can sell 11,200 Samoan Delight without incurring any additional foxed expenses: Prepare a revised contribution format income statement that includes Samoan Delight. Assume that sale other two products does not change. (Round your "Percentage answers to 1 decimal place (1 0.1234 should be entered as 12.3).) Show Inland Novelles, Inc., Contribution Income Statement Hawaiian Fantasy Tahitian Jay Amount % Amount % % % % % Samoan Delight Amount Total Amount %6 % % % % % 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 $40 each and that has variable expenses of $32 per unit. If the company can sell 11.200 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. Reo IA Reg 1B Ped 2A Hea 28 The company has developed a new product called Samoan Delight that sells for $40 each and that has variable expenses of $32 per unit. If the company can sell 11,200 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 le 0.1234 should be entered as 12.3). Round your other final answers to the nearest whole dollar) Show less Break even point in dotar nas Margin of safety in dollars Margin of afwy percentage