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: Bene Petit First Year Operating Data: Single (1 serving) 3,000 Dual (2 servings) Family (4 servings) Total 5,000 12,000 20,000 3,000 750 10,000 48,000 61,000 1,250 3,000 5,000 3,000 6 5,000 12,000 20,000 10 24 40 Customer Meals Sold Total Customer Servings Customer Orders (Average 4 meals per order) Number of Donated Meals (1 per customer meal) Number of Donated Deliveries (500 meals per delivery) 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 Dual Family Single Serving Dual Serving Family Size Total Input Values: Single Serving Serving Size Total Sales Revenue (55 per serving) Less: Variable costs Customer Meals: Direct Materials (51 per customer serving) Direct Labor (50.75 per customer meal) $ 15,000 $ 50,000 $240,000 $305,000 Number of Customer Meals Sales mix (% of customer meals) Number of Servings per Meal 3,000 5,000 12,000 15% 25% 60% 4 2 4 Number of Servings 3,000 10,000 48,000 $ 3,000 $ 10,000 $ 48,000 5 61,000 Number of Customer Orders 750 1,250 2,250 3,750 9,000 15,000 Variable Manufacturing Overhead (60% of Direct labor) Variable Manufacturing Cost ($1.25 per donated meal) Number of Donated Meals 3,000 5,000 1350 2,250 5,400 3,750 6,250 15,000 9,000 25,000 Number of Donated Deliveries 6 10 3,000 12,000 24 Customer Delivery Expenses ($2 per customer order) Donation Delivery Expense ($125 per delivery) 1,500 2,500 6,000 10,000 Price Per Serving $ 5.00 per customer serving 750 1,250 3,000 5,000 Variable Costs 2 Total Variable Costs Total Contribution Margin 12,600 5 26,000 $ 86,400 $125,000 Direct Materials (51 per serving $ 1.00 per customer serving Direct Labor (50 75 per customer meal) $ 0.75 per customer meal $ 2,400 $24,000 5 153,600 $ 180,000 Variable Manufacturing Overhead 60% of DE 60% of direct labor cost Less Fixed Costs Allocated Based on Sales Revenue Fixed Selling Expenses Fixed Manufacturing Expenses Fixed Administrative Expenses Total Fixed Expenses Net Operating Profit 22 Average Contribution Margin Per Meal Sold Variable cost of donated meals S 1.25 per donated meal 3,089 $ 12,295 $ 1,426 4,754 59,016 51 22.820 1,967 6,557 31,475 75,000 29,000 40,000 Variable delivery expenses (customer meals) Variable delivery expenses (donated meals) $ 2.00 per customer order $ 125.00 per delivery 7,082 23,607 113,11 144,000 Fixed costs 5 (4,682) S 3935 40,289 5 16,000 Fixed manufacturing costs 75,000 $ Single Serving Dual Serving 0.80 $ 4.80 Family Size 5 12.80 5 Overall Fixed selling expenses $ 29,000 900 Average Contribution Margin Ratio (% of Revenue) Fixed administrative expenses $ 40,000 59.07% Total fixed cons $ 144,000 24 Single Serving Duel Serving Family So Total 26 Break even point customer meals sold) 27 Break-even point (total sales revenue) 20 29 Margin of Safety (Customer Meah) 30 Margin of Safety (Sales 5) Part A 1. starting data 3. Use the "goal seek" function in Excel to determine how many customer meals (in total and by product line) must be sold to earn $126,000 in net operating income. Hint: Use the "goal seek" function to change net operating income to $126,000 by changing only the cell that contains the total number of customer meals sold. a. How many total meals must be sold to earn $126,000 in net operating Income? Total meals b. How much total sales is required to earn $126,000 in net operating income? Total sales