Part 3: Cost Behavior, CVP and Incremental Analysis The following table summarizes the operating results for Bene Petits first year of operations: Bene Petit First year operating data: Single (1 serving) Dual (2 servings) Family (4 servings) Total Customer Meals Sold 3,000 5,000 12,000 20,000 Total Customer Servings 3,000 10,000 48,000 61,000 Customer Orders (Average = 4 meals per order) 750 1,250 3,000 5,000 Number of Donated Meals (1 per customer meal) 3,000 5,000 12,000 20,000 Number of Donated Deliveries (500 meals per delivery) 6 10 24 40 Additional information about selling prices, variable costs and fixed costs is summarized below: The average sales price for customer meals is $5 per serving. The average direct materials (ingredients) cost of customer meals is $1 per serving. Direct labor costs average $0.75 per customer meal. Variable manufacturing overhead costs are applied at a rate equal to 60% of direct labor. Delivery expense for customer meals is $2 per customer order. The incremental cost of producing the donated meals is $1.25 per meal. Delivery expense for donated meals is $125 per delivery to community partners. The following fixed costs are allocated to customer meals based on total sales revenue: o Fixed manufacturing overhead costs are $75,000 per year. o Fixed selling expenses are $29,000 per year. o Fixed administrative expenses are $40,000 per year. Based on this information, you will prepare a segmented (contribution margin) income statement for Bene Petit. The statement should be created in Excel and should include formulas linking to the starting data so that you can change only one cell in the statement and everything else will recompute. This will allow you to perform what if and goal seek analysis, including the following independent decision scenarios. 3. Use the goal-seek function in excel to determine how many customer meals (in total and by product line) must be sold to earn $126,000 in net operating income. Hint: Use the goal seek function to change net operating income to $126,000 by changing only the cell that contains the total number of customer meals sold. a) How many total meals are needed to earn $126,000 in net operating income? b) How much total sales is required to earn $126,000 in net operating income?