Little Piggie produces sports socks. The company has fixed expenses of $80,000 and variable expenses of $1.20 per package. Each package sells for $2.50. Requirements 1. Compute the contribution margin per package and the contribution margin ratio. 2. Find the break-even point in units and in dollars using the contribution margin shortcut approaches. 3. Find the number of packages Little Piggie needs to sell to earn a $25,000 operating income