Problem $11-28$A $($Algo$)$ Determining the break$-$even point and preparing a contribution margin income statement LO $11-3,11-5$

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.

Req $A$ to $B$

Determine the break$-$even point in units and dollars using the equation method and the contribution margin per unit approach.

$\backslash$table$[[$a$.$ Break$-$even point in units$],[$a$.$ Break$-$even point in dollars$],[$b$.$ Contribution margin per unit$],[$b$.$ Break$-$even point in units$],[$b$.$ Break$-$even point in dollars$]]$