Required information [The following information applies to the questions displayed below) Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans call for a $240 selling price per 100 yards of XT rope. Its fixed costs for the year are expected to be $235,200, up to a maximum capacity of 550,000 yards of rope. Forecasted variable costs are $192 per 100 yards of XT rope. 1. Estimate Product XT's break-even point in terms of sales units and sales dollars. (1 unit = 100 yards) (Do not round intermediate calculations.) per 100 yde Contribution Margin Sales Less: Variable cost Contribution margin Contribution Margin ratio Choose Numerator: CM per unit $ 0 Choose Denominator: 1 Contribution Margin Ratio Contribution margin ratio 0 1(a) Estimate Product XT's break-even point in terms of sales units. (1 unit - 100 yards) Choose Numerator: 1 Choose Denominatori Break-Even Units Fixed costs Break-even units 0 1(b) Estimate Product XT's break-even point in terms of sales dollars. Choose Numerator: 1 Choose Denominator Fixed costs Break.Even Dollars Break-even dollars Required Information The following information applies to the questions displayed below) Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans call for a $240 selling price per 100 yards of XT rope. Its fixed costs for the year are expected to be $235,200, up to a maximum capacity of 550,000 yards of rope. Forecasted variable costs are $192 per 100 yards of XT rope. 2. Prepare a contribution margin income statement showing sales, variable costs, and fixed costs for Product XT at the break-even point PRAVEEN CO. Contribution Margin Income Statement (at Break-Even) - Product XT Units $ per unit Total Sales $ 240 Less Variable cost 192 Contribution margin Less: Fixed costs Net income 0