Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales $ 22,100 Variable expenses 12,700 Contribution margin 9,400 Fixed expenses 7,708 Net operating income $ 1,692

Required:

a. What is the margin of safety in dollars? (Do not round intermediate calculations.)

b. What is the margin of safety percentage?