Question 9, E7-39A (similar to) HW Score: 0%, 0 of 9 points rk Part 1 of 12 O Points: 0 of 1 Save Gary Preston is evaluating a business opportunity to sell premium car wax at vintage car shows. The wax is sold in 64-ounce tubs. Gary can buy the premium wax at a wholesale cost of $36 per tub. He plans to sell the premium wax for $66 per tub. He estimates fixed costs such as travel costs, booth rental cost, and lodging to be $510 per car show. Read the requirements. Requirement 1. Determine the number of tubs Gary must sell per show to break even. Begin by identifying the formula to compute the sales in units at various levels of operating income using the contribution margin approach. Sales in unitsQuestion 9. E7-39A (similar to) NW Score: 0%, o of 9 points Part 1 of 12 ' O Polnts:00f1 Gary Preston is evaluating a business opportunity to sell premium car wax at vintage car shows. The wax is sold in 64ounce tubs. Gary can buy the premium wax at a wholesale cost of $36 per tub. He plans to sell the premium wax for $66 per tub. He estimates xed costs such as travel costs. booth rental cost, and lodging to be $510 per car show. Read the mulrements.' Begin by identifying th Requirements approach. ' 1. Determine the number of tubs Gary must sell per show to break even. . 2. Assume Gary wants to earn a prot of $990 per show. a. Determine the sales volume in units necessary to earn the desired prot. b. Determine the sales volume in dollars necessary to earn the desired profit. c. Using the contribution margin format, prepare an income statement (condensed version) to conrm your answers to parts a and b. 3. Determine the margin of safety between the sales volume at the breakeven point and the sales volume required to earn the desired prot. Determine the margin of safety in both sales dollars, units, and as a percentage