Istand Novelties, Incorpcrated, of Palau makes two produets-Hawaian Fantasy and Tahitian Joy, Each groduct's seithg price, variatie expense per unit and annual sales volume are as follows: Fixed expenses total $580.000 per year: Required: 1. Assuming the sales mix, ghen above, do the following: a. Prepare a contribution format income statement showing both dotar and percent colunens for esch product and for the company as a whole. b. Compute the company's break-even point in dolar saies. AYo, compute its maegin of safetyin dotais and at marg of solety percentage 2. The corrpany has developed a new product caled Somoan Delight that sells for $50 each and that has varioble expenses of $40 per uns, if the compsny can seef 13,000 units of Samoan Delight without incuring any additional fixed expenses: a. Prepare a revised contrbution formst income statement that inclufes Somoan Delight Assutte that sales of the other wa products does not change. b. Compute the comparys revised beak-even point in dolar sales. Also, compute its revsed margn of sadety in doliss and: margen of safesy percentage. Answer is complete but not entireiy correct. Complete this questian by entering vour answers in the tabs below. D. Compute the compeny's revised bresk-even peint in dolis sales. Asso, compute its revised matgin of sacety in dokais and margin of salety percentege. (2) Annwer is complete but not entiraly correct. Complete this question by entering your answers in the tabs below. Assuming the sales m ix ghen above, do the following: Prepare a contributlon focmat income statement showing both dolar and percent oolumne for each product and for the company as a whole. 3. Prepare a revised contribution fotmat income statement that includes Samean Deight. Assume that sales of the othe products does not change. b. Compute the company's revised breakcewen point in dollar salos. Also, compute its revised margin of salety in dollars margin of safety percentage. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Assuming the sales mix given above, do the following: Coropute the compary's break-even point in tellar saiesi Also, compute its margin of safety in dotars and its marg n of safety percentage. Note: Do not round your insermediate calculations. Round your "Margf of safety perceneage" finai answer to 1 decimal piace (i. e 0.1234 should be entered as 12.3), Round your other tinal answers to the nearest whole dollar. Shaw Iena: b. Compute the company's revised break-even point in dollar sales, Aso, compute its revised margin of satety in doltars and margin of safety percentage. Q) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. The compony has develeped a new product called Samoan Delight that sels for $50 each and that has variable expenses ce $40 per unit. If the company can sell 13,000 thits of Sachoan Delight without incurring any additional fixed expenses: Prepare a revised contribution format incom statement that includes Samoan Delight. Assume that sales of the other two products does not change. Ncte: Found your "Percentoge" answers to 1 decimal place (Le 0.1234 should be entered as 12.3), 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. The company has developed a new product called Samoan Despht that selis for $50 each and that has variable expenses of 540 per unit. If the company can sell 13,000 units of Samcan Deight without incurting any additional fixed expenses: Compute the company's revised break-even point in dollar sales. Aso, compute its revised margin of safety in dollars and margin of safety percentage. Note: Do not round your intermedlate calculations. Pound your "Margin of safety percentage" final ansixer to 1 tecimal piace (i.e 0.1234 should be entered as 12.3). Round your other final arswers to the nearest whole dollar. Show losstA