Please help me with the 2 attached accounting questions. Thanks

There are two problems this week. Click the tab at the bottom of the spreadsheet to move to problem 2. Best Harmonica Company manufactures and sells harmonicas to distributors. The model they produce sells to the distributors for $8.00 each. Following are cost estimates: Sales Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $3,480,000 543,750 761,250 152,250 640,000 78,300 300,000 47,850 185,000 Instructions A. B. C. D. E. Prepare a CVP income statement based on these cost estimates. Commute contribution margin ratio. Compute the break-even point in (1) units and (2) dollars. Compute the margin of safety ratio. Determine the sales dollars required to earn net income of $1,000,000. Problem 2 involves a fixed asset decision. FACTS: 1. Elliott Incorporated manufactures garden tools, and although the manufacturing equipment is perfectly functional, it is not modern. 2. Upgrading to modern equipment would speed up the manufacturing process such that direct labor and variable manufacturing costs would be reduced by 40% on a per-unit basis. Hint: You do not need current units produced to calculate this problem. 3. The cost of such an upgrade would equal $1,500,000 per year for depreciation and financing costs net of tax benefits of these costs. 4. The additional costs would be accounted for as fixed manufacturing overhead. 5. Elliott is currently operating at full capacity and management believes they could increase sales to $6,000,000 at current prices if they had additional capacity. Elliott's current sales and costs are as follows: Sales Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $4,500,000 780,000 1,540,000 364,500 750,000 90,000 250,000 60,000 200,000 a. Prepare a CVP for Elliott based on the current production. b. Compute contribution margin ratio for current production. c. Compute breakeven dollars for current production. d. Prepare a CVP based on the proposed equipment upgrade. e. Compute contribution margin ratio based on the proposed equipment upgrade. f. Compute breakeven dollars for current production. g. Should Elliott proceed with the proposed upgrade