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Big Foot produces sports socks. The company has fixed expenses of $80,000 and vanable expenses of $0.80 per package. Each package sels for $1,60 Read the Requirement 1. Compute the contribution margin per package and the contribution margin ratio. Begin by computing the contribution margin per package. Then compute the contributon margin per package. (Enter the amount to the nearest cent.) The contribution margin per peckage is Compute the contribution margin ratio (Enter the ratio as a whole percont) The contribution margin ratio is: Requirement 2. Find the breakeven poin in unis and doilars Begin by computng the breakeven sales in units using the contabution margin approuch The breakeven point in unis is Find the breakeven pount in dollars using the contntution maigin approach The breakeven point in dokars is Requirement 3. Find the number of packages Big Foot needs to sell to earn a $25,000 operating income The number of packages to achieve an operating income of 525,000ks he company has fixed expenses of $80,000 and variable expenses of $0.80 per package. Each tribution margin per package and the contribution margin ratio. Requirements 1. Compute the contribution margin per package and the contribution margin ratio. 2. Find the breakeven point in units and in dollars. 3. Find the number of packages Big Foot needs to sell to earn a $25,000 operating income