Part B (12 Marks) James Ltd manufactures 6.6kW solar panels. Unit data for 66kW solar panel model are as follows: Solar panel model Selling price $2100 Variable costs and expenses Direct materials 350 Direct labour 250 Manufacturing overhead 500 Selling and administrative 370 Total variable costs and expenses $1470 The fixed costs are manufacturing overhead $200 300, and selling and administrative expenses $90100. Required: (a) Calculate the contribution margin ratio for the solar panel model (3) Marks) (b) Calculate the break-even point in dollars for the solar panel model. (3 Marks) (c) Calculate the margin of safety ratio assuming that the company expects to sell 520 solar panels from the 6.6kW model (2 Marks) ii) Discuss how managers of James Ltd use this margin of safety ratio information to manage the profitability of the solar panel model? (4 Marks)