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Ritchie Manufacturing Company makes a product that it sells for $180 per unit. The company incurs variable manufacturing costs of $79 per unit. Variable selling expenses are $20 per unit, annual fixed manufacturing costs are $500,000, and fixed selling and administrative costs are $245,200 per year.

Required

Determine the break-even point in units and dollars using each of the following approaches:

1. Use the equation method.

2. Use the contribution margin per unit approach.

3. Prepare a contribution margin income statement for the break-even sales volume.

Ritchie Manufacturing Company makes a product that it sells for $180 per unit. The company incurs variable manufacturing costs of $79 per unit. Variable selling expenses are $20 per unit, annual fixed manufacturing costs are $500,000, and fixed selling and administrative costs are $245,200 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation method. b. Use the contribution margin per unit approach. c. Prepare a contribution margin income statement for the break-even sales volume. Complete this question by entering your answers in the tabs below. Reg A to B Reg C Determine the break-even point in units and dollars using the equation method and the contribution margin per unit approach. a. Break-even point in units Break-even point in dollars b. Contribution margin per unit Break-even point in units Break-even point in dollars Rag AB Reqc > Complete this question by entering your answers in the tabs below. Req A to B Reg C Prepare a contribution margin income statement for the break-even sales volume. RITCHIE MANUFACTURING COMPANY Contribution Margin Income Statement