Lurvey Men's Clothing's revenues and cost data for 2080 are as follows: (Click the loon to view the data.) Me Lurvay, the ownor of the thore. Is unhoppy with the operating rasuls. An analyals of cher operating costs reveals that a inctudes $40.000 variable costs, which vary with sales velume, and $20.000 (fued) costs. Read the reavirements. Requirement 1. Compule the contrbution margin of Lurvey Meris Clohing Delecmine the formula to calculate the contribubion margin, then enter the amcunts in the formula to compute the contribution margin of Lurvey Maris Clohing: = Contribution magn Requirement 2. Compute the contribution margin percentage Requirement 3. Mr. Lurvey pamates that he can increase units sold, and hence fevenues by 25% by incurring additional adverfing costs of 50,000 . Calculate the inipact of the adestonal advertsing costs on operasivi income. Delemine the formula to solve for the amount then complete the formule. Requirement 4, What other actions can M, Lurvey take to improve operaing income? To improve operafing income, Mr Lurvey must find ways to Revenues Cost of goods sold (all variable costs) Gross margin $400,000180,000220,000 Operating costs: Salaries fixed $150,000 Salescommissions(9%ofsales)36,000 Depreciation on equipment and fixtures 18,000 Store rent ($4,000 per month) 48,000 Other operating costs Operating income (loss)