Kevin Preston is evaluating a business opportunity to sell premium car wax at vintage car shows. The wax is sold in 64oz tubes. Kevin can buy the premium wax at a wholesale cost of $32 per tub. He plans to sell the premium wax for $62 per tub. He estimates fixed costs such as travel costs, booth rental cost, and lodging to be $600 per car show.

PLEASE READ ALL REQUIREMENTS IN PICTURE.

Kevin Preston is evoluating a business opportunity to sell premium car wax at viatage car shows. The wax is sold in 64 ounce tubs. Kevin can buy the premium wax at a wholesale cost of $32 par tub. He plans to sell the premium wax for $62 per hib. He estimates fixod costs such as travel costs, booth rental cost, and lodging to be $600 per car show. Read the requiroments. Regulrement 1. Determine the number of tubs Kevin must seal per ahow to break even, Degh by kerifyhing the formula to compule the sales hn units at warcois levnit of operating inoome uring the contribution margin approach. Requirements 1. Determine the number of tubs Kevin must sell per show to break even. 2. Assume Kevin wants to earn a profit of $900 per show. a. Determine the sales volume in units necessary to earn the desired profit. b. Determine the sales volume in dollars necessary to earn the desired profit. c. Using the contribution margin format, prepare an income statement (condensed version) to confirm your answers to parts a and b. 3. Determine the margin of safety between the sales volume at the breakeven point and the sales volume required to earn the desired profit. Determine the margin of safety in both sales dollars, units, and as a percentage