Project 1: CVP Income Statement (10 points) Instructions: Prepare your solutions in Excel, and upload 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: $ 1. Budgeted production costs for the coming year: a. Direct materials per mower b. Direct labor per mower c. Variable overhead per mower d. Total fixed overhead 250 130 70 33,500 2. Budgeted selling and administrative costs for the coming year: . Fixed selling & adm expense b. Sales commission per mower 50 $ 52.900 3. In the coming year, Crescent City plans to produce and sell 1,500 mowers at a price of $590 each. Instructions for Project 1: 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 $100,000, how many units must it sell? Cost of goods sold Selling expenses Administrative expenses Variable $760,000 95,000 79,000 Fixed $600,000 60,000 66,000 Prepare a CVP income statement for the quarter ended March 31, 2020. BE19.3 (LO 1) Eastland Corp. had total variable costs of $150,000, total fixed costs of $120,000, and total revenues of $250,000. Compute the required sales in dollars to break even. BE19.4 (LO 1) Dilts Company has a unit selling price of $400, variable costs per unit of $250, and fixe costs of $210,000. Compute the break-even point in units using (a) the mathematical equation and (t unit contribution margin. BE19.5 (LO 1) For Rivera Company, variable costs are 70% of sales, and fixed costs are $210,004 Management's net income goal is $60,000. Compute the required sales needed to achieve management target net income of $60,000. (Use the mathematical equation approach.) ne BE19.6 (LO 1) For Kosko Company, actual sales are $1,200,000 and break-even sales are $960,00 Compute (a) the margin of safety in dollars and (b) the margin of safety ratio. BE19.7 (LO2) NoFly Corporation sells three different models of a mosquito "zapper." Model A12 sel for $50 and has variable costs of $35. Model B22 sells for $100 and has variable costs of $70. Mode C124 sells for $400 and has variable costs of $300. The sales mix of the three models is A12, 60%; B22 15%; and C124, 25%. What is the weighted average unit contribution margin? man hac fixed costs of