Please show each step with an explanation on how to calculate. Also, will you please include the formulas that are used to arrive at the answers. Thank you.

Lindo Company incurs annual fixed costs of $80,000. Variable costs for Lindos product are $40 per unit, and the sales price is $64 per unit. Lindo desires to earn an annual profit of $40,000.

Required

Determine the sales volume in dollars and units required to earn the desired profit. (Do not round intermediate calculations.)

Sales in dollars
Sales in units