! Required information [The following information applies to the questions displayed below.] Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin $ 35,000 21,000 14,000 8,400 Net operating income $ 5,600 Fixed expenses Required: 1. What is the contribution margin per unit? Note: Round your answer to 2 decimal places. Contribution margin per unit $ 40.00 2. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? Note: Do not round intermediate calculations. Job P Job Q Manufacturing overhead applied 3. What is the variable expense ratio? Variable expense ratio % 4. If sales increase to 1,001 units, what would be the increase in net operating income? Note: Round your answer to 2 decimal places. Increase in net operating income 5. If sales decline to 900 units, what would be the net operating income? Note: Round "Per Unit" calculations to 2 decimal places. Net operating income 6. If the selling price increases by $2 per unit and the sales volume decreases by 100 units, what would be the net operating income? Note: Round "Per Unit" calculations to 2 decimal places. Net operating income 7. If the variable cost per unit increases by $1, spending on advertising increases by $1,250, and unit sales increase by 150 units, what would be the net operating income? Note: Round "Per Unit" calculations to 2 decimal places. Net operating income