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Question Help The contribution margin income statement of Creamy Donuts for August 2018 follows: Click the icon to view the contribution margin income statement.) Creamy sells five dozen plain donuts for every dozen custard-filled donuts. A dozen plain donuts sells for $4.00, with total variable cost of $1.60 per dozen. A dozen custard-filled donuts sells for $8.00, with total variable cost of $3.20 per dozen. Read the requirements Requirement 1. Calculate the weighted average contribution margin. (Round all currency amounts to the nearest cent.) HINT: Note that you'll need to calculate contribution margin as normal for each variety. Then you'll need to do the "two-step" approach of arriving at weighted average contribution margin demonstrated by the book--this amounts to entering the numerator from the one-step approach I demonstrated in the lecture to fill in amounts in the third-to-last row to arrive at amounts in the second-to-last column, then dividing by the denominator to arrive at the weighted average contribution margin. Plain Filled Total Sales price per unit 4 8 Variable cost per unit 1.60 3.20 Contribution margin per unit 2.40 4.80 4 1 Sales mix in units 5 9.60|| 4.80 14.4 Contribution margin 2.88 Weighted average contribution margin per unit Requirement 2. Determine Creamy's monthly breakeven point in dozens of plain donuts and custard-filled donuts. Prove your answer by preparing a summary contribution margin income statement at the breakeven level of sales. Show only two categories of costs: variable and fixed. We'll begin with the breakeven point. Start by selecting the formula and entering the amounts to compute the breakeven point in units for the "package" of products-total dozens of donuts to be sold. (Complete all input fields. Enter a "0" for any zero balances. Enter currency amounts to the nearest cent. Abbreviation used: Weighted-avg. CM = weighted average contribution margin.) HINT: Recall that finding the weighted average CM is the real difference for sales mix/ multiple product type examples. This calculation is the same as with one product. Variable costs Fixed costs ): Weighted-avg. CM per unit = Required sales in units 17500 37800 12600 2.88 The contribution margin income statement of Creamy Donuts for August 2018 follows: (Click the icon to view the contribution margin income statement.) Creamy sells five dozen plain donuts for every dozen custard-filled donuts. A dozen plain donuts sells for $4.00, with total variable cost of $1.60 per dozen. A dozen custard-filled donuts sells for $8.00, with total variable cost of $3.20 per dozen. Read the requirements Determine Creamy's monthly breakeven point in dozens of plain donuts and custard-filled donuts. The breakeven point is dozen plain donuts and dozen custard-filled donuts. Prove your answer by preparing a summary contribution margin income statement at the breakeven level of sales. Show only two categories of costs: variable and fixed. (Enter a "0" for any zero balances.) NOTE: Begin with sales revenue, and remember the subtotal that you'll need to find to generate this type of income statement Creamy Donuts Contribution Margin Income Statement Plain Filled Net Sales Revenue Total Variable Costs Contribution Margin Fixed Costs Operating Income Requirement 3. Compute Creamy's margin of safety in dollars for August 2018. (The contribution margin income statement provided should be used to determine any expected results.) Expected sales in dollars Breakeven sales in dollars Margin of safety in dollars $ Creamy Donuts Contribution Margin Income Statement Month Ended August 31, 2018 Net Sales Revenue $ 126,000 Variable Costs: Cost of Goods Sold $ 32,500 Selling Costs 17,100 800 Administrative Costs 50,400 Contribution Margin 75,600 Fixed Costs: Selling Costs 37,800 Administrative Costs 12,600 50,400 $ 25,200 Operating Income $ - i Requirements 1. Calculate the weighted average contribution margin. 2. Determine Creamy's monthly breakeven point in dozens of plain donuts and custard-filled donuts. Prove your answer by preparing a summary contribution margin income statement at the breakeven level of sales. Show only two categories of costs: variable and fixed. 3. Compute Creamy's margin of safety in dollars for August 2018. 4. Compute the degree of operating leverage for Creamy Donuts. Estimate the new operating income if total sales increase by 10%. (Round the degree of operating leverage to four decimal places and the final answer to the nearest dollar. Assume the sales mix remains unchanged.) 5. Prove your answer to Requirement 4 by preparing a contribution margin income statement with a 10% increase in total sales. (The sales mix remains unchanged.)