! 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 $ 55,000 Variable expenses 33,000 Contribution margin 22,000 Fixed expenses 14,960 Net operating income $ 7,040 Required: 1. What is the contribution margin per unit? (Round your answer to 2 decimal places.) Contribution margin per unit 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 $ 55,000 Variable expenses 33,000 Contribution margin 22,000 Fixed expenses Net operating income $ 7,040 14,960 2. What is the contribution margin ratio? Contribution margin ratio % 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 $ 55,000 Variable expenses 33,000 Contribution margin 22,000 Fixed expenses 14,960 Net operating income $ 7,040 3. What is the variable expense ratio? Variable experise ratio % 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 Fixed expenses Net operating income $ 55,000 33,000 22,000 14,960 $ 7,040 4. If sales increase to 1,001 units, what would be the increase in net operating income? (Round your answer to 2 decimal places.) Increase in net operating income 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 $ 55,000 Variable expenses 33,000 Contribution margin 22,000 Fixed expenses 14,960 Net operating income $ 7,040 5. If sales decline to 900 units, what would be the net operating income? Net operating income