Part 1. Beth Dean had been hired as a staff accountant within the last 6 months and was responsible for doing routine types of analytical work. Beth recently decided to undertake some break-even analysis and was eager to present her findings to her boss, Ben Jacobs. During the presentation, Beth explained the purpose of break-even analysis as follows: The company must be able to at least sell a sufficient volume of goods to cover all of the variable costs of producing and selling the goods as well as the fixed costs in order to make profits. The volume at which the firm covers both variable and fixed costs should be the lower limit for all planning since it is the point at which the firm breaks even. Beth used the following information for her charts. Exhibit 1 (Current data) Plant Capacity 2 million units per year Past years level of operations 1.5 million units Average Unit selling price $7.20 Total Fixed Costs $2,970,000 Average unit variable cost $4.50 Required: (6 pts.) 1. Compute the break-even analysis that Ann Means provided to Ben Jacobs by computing the break-even in units and sales dollars. (You must have a formula (use excel to calculate) for your answer on the spreadsheet. In other words, you cannot just type the answer. Put the case data (for example, type in Exhibit 1 information) at the top of the worksheet and incorporate that data in your worksheet formulas. I should be able to change your case data and your worksheet would compute the new answer) 2. Prepare a contribution margin income statement (in good form use lines, dollars signs, etc. see your text for examples of what a statement should look like) at the current sales levels. (again, use formulas. Do not simply type the numbers) ____________________________________________________________________