Lakeland Co. sold 20,500 chairs (Lakeland's only product) in 2019. This resulted in a $67,750 loss (ignoring taxes) for the year ended. During a planning meeting for the upcoming 2020 fiscal year, Lakeland's factory supervisor estimates that variable costs can be lowered 40% by installing equipment that makes production more efficient. To obtain these efficiencies, Lakeland must increase its annual fixed costs by $155,000 The maximum output capacity of Lakeland is 40,000 chairs per year. LAKELAND COMPANY Contribution Margin Income Statement For Year Ended December 31, 2019 Sales $ 779,000 Variable costs 584,250 Contribution margin 194,750 Fixed costs 262,500 Net loss $ (67,750) Required: 1. Compute the break-even point in dollar sales for 2019. (Round your answers to 2 decim Contribution Margin Per Unit Current Year Contribution Margus Ratio Choose Numerator: Choose Denominator Contribution Margin Ratio Contribution margin ratio Eres Polo Dollar Sales: THU PHI H. Choose Denominator: Break Even Pisinin atas 1 Brak even point in dollars PON 17 10 LE N>