Required information [The following information applies to the questions displayed below.] These questions relate to the Integrated Analytics Case: Bene Petit. Select the appropriate eBook link to open the Case Overview, Case Background, and Part 3: Managerial Decision Making. The following table summarizes the operating results for Bene Petit's first year of operations: Additional information about selling prices, variable costs, and fixed costs is summarized below: - The average sales price for customer meals is $5 per serving. - The average direct materials (ingredients) cost of customer meals is $1 per serving. - Direct labor costs average \$0.75 per customer meal. - Variable manufacturing overhead costs are applied at a rate equal to 60% of direct labor. - The delivery expense for customer meals is $2 per customer order. - The incremental cost of producing the donated meals is \$1.25 per meal. - The delivery expense for donated meals is $125 per delivery to community partners. - The following fixed costs are allocated to customer meals based on total sales revenue: - Fixed manufacturing overhead costs are $75,000 per year. - Fixed selling expenses are $29,000 per year. - Fixed administrative expenses are $40,000 per year. The attached excel file shows a contribution margin income statement based on these starting assumptions. You should return to this starting spreadsheet for each part of the case below. Part 3 CVP Analysis (starting_data).xlsx \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline & A & B & c & D & E & F & H & 1 & J & K \\ \hline 1 & & Single Serving & Dual Serving & Family Size & Total & Input Values: & Single Serving & \begin{tabular}{c} Dual \\ Serving \end{tabular} & \begin{tabular}{c} Family \\ Size \end{tabular} & Total \\ \hline 2 & Total Sales Revenue ( $5 per serving) & $15,000 & $50,000 & $240,000 & $305,000 & Number of Customer Meals & 3,000 & 5,000 & 12,000 & 20,000 \\ \hline 3 & & & & & & Sales mix (\% of customer meals) & 15% & 25% & 60% & 100% \\ \hline 4 & Less: Variable costs: & & & & & Number of Servings per Meal & 1 & 2 & 4 & \\ \hline 5 & Customer Meals: & & & & & Number of Servings & 3,000 & 10,000 & 48,000 & 61,000 \\ \hline 6 & Direct Materials (\$1 per customer serving) & 3,000 & 10,000 & $48,000 & 61,000 & Number of Customer Orders & 750 & 1,250 & 3,000 & 5,000 \\ \hline 7 & Direct Labor ($0.75 per customer meal) & 2,250 & 3,750 & 9,000 & 15,000 & Number of Donated Meals & 3,000 & 5,000 & 12,000 & 20,000 \\ \hline 8 & Variable Manufacturing Overhead ( 60% of Direct labor) & 1,350 & 2,250 & 5,400 & 9,000 & Number of Donated Deliveries & 6 & 10 & 24 & 40 \\ \hline 9 & Variable Manufacturing Cost ( $1.25 per donated meal) & 3,750 & 6,250 & 15,000 & 25,000 & & & & & \\ \hline 10 & Customer Delivery Expenses (\$2 per customer order) & 1,500 & 2,500 & 6,000 & 10,000 & Price Per Serving & 5.00 & \multicolumn{2}{|c|}{ per customer serving } & \\ \hline 11 & Donation Delivery Expense ( $125 per delivery ) & 750 & 1,250 & 3,000 & 5,000 & Variable Costs: & & & & \\ \hline 12 & Total Variable Costs & $12,600 & 26,000 & $86,400 & $125,000 & Direct Materials (\$1 per serving) & 1.00 & \multicolumn{2}{|c|}{ per customer serving } & \\ \hline 13 & & & & & & Direct Labor ( $0.75 per customer meal) & 0.75 & \multicolumn{2}{|c|}{ per customer meal } & \\ \hline 14 & Total Contribution Margin & 2,400 & $24,000 & $153,600 & $180,000 & Variable Manufacturing Overhead 60% of DL & 60% & \multicolumn{2}{|c|}{ of direct labor cost } & \\ \hline 15 & Less: Fixed Costs Allocated Based on Sales Revenue & & & & & Variable cost of donated meals & 1.25 & \multicolumn{2}{|c|}{ per donated meal } & \\ \hline 16 & Fixed Manufacturing Expenses & 3,689 & 12,295 & $59,016 & $75,000 & Variable delivery expenses (customer meals) & 2.00 & \multicolumn{2}{|c|}{ per customer order } & \\ \hline 17 & Fixed Selling Expenses & 1,426 & 4,754 & 22,820 & 29,000 & Variable delivery expenses (donated meals) & 125.00 & \multicolumn{2}{|l|}{ per delivery } & \\ \hline 18 & Fixed Administrative Expenses & 1,967 & 6,557 & 31,475 & 40,000 & & & & & \\ \hline 19 & Total Fixed Expenses & 7,082 & 23,607 & 113,311 & 144,000 & Fixed costs: & & & & \\ \hline 20 & Net Operating Profit & $(4,682) & 393 & $40,289 & $36,000 & Fixed manufacturing costs & 75,000 & & & \\ \hline 21 & & Single Serving & Dual Serving & Family Size & Overall & Fixed selling expenses & 29,000 & & & \\ \hline 22 & Average Contribution Margin Per Meal Sold & 0.80 & 4.80 & 12.80 & 9.00 & Fixed administrative expenses & 40,000 & & & \\ \hline 23 & Average Contribution Margin Ratio (\% of Revenue) & & & & 59.02% & Total Fixed costs & 144,000 & & & \\ \hline 24 & & & & & & & & & & \\ \hline 25 & & Single Serving & Dual Serving & Family Size & Total & & & & & \\ \hline 26 & Break-even point (customer meals sold) & & & & & & & & & \\ \hline 27 & Break-even point (total sales revenue) & & & & & & & & & \\ \hline 28 & & & & & & & & & & \\ \hline 29 & Margin of Safety (Customer Meals) & & & & & & & & & \\ \hline 30 & Margin of Safety (Sales \$) & & & & & & & & & \\ \hline 31 & & & & & & & & & & \\ \hline 32 & Degree of Operating Leverage & & & & & & & & & \\ \hline 33 & & & & & & & & & & \\ \hline 34 & & & & & & & & & & \\ \hline \end{tabular} 1. Treat the following questions as independent scenarios. Use the starting spreadsheet to answer the following questions. a. What was Bene Petit's net operating income during the first year of operations? b. What was the average contribution margin per customer meal sold? c. What was the overall contribution margin ratio (as a percentage of total sales revenue)? Note: Enter the percentage to two decimal places. d. What is Bene Petit's degree of operating leverage for the first year of operations