Project 1: CVP Income Statement (10 points) Instructions: Prepare your solutions in Excel, and uplood your Excel file to Moodle by the deadline specified by your instructor. Do NOT email your filel The following information pertains to Crescent City, a lawn mower manufacturer: Budgeted production costs for the coming year Direct materials per mower Direct labor per mower Variable overhead per mower Total fixed overhead $275 130 70 44,750 Budgeted selling and administrative costs for the coming year: Fixed selling& admin expense Sales commission per mower $62,000 75 S CM In the coming year, Crescent City plans to produce and sell 1,500 mowers at a price of $725 each. Instructions for Project 1: NI 1. Prepare a CPV income statement 2. Calculate the breakeven point in units and sales dollars. 3. Calculate the margin of safety. 4. Calculate the margin of safety ratio. 5. If Crescent City wants to earn net income of $200,000, how many units must Dt43 1753 it sell