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 Required: 1. What is the contribution margin per unit? (Round your answer to 2 decimal places.) Contribution margin per unit $ 22.00 2. What is the contribution margin ratio? Contribution margin ratio 401%| 3. What is the variable expense ratio? Variable expense ratio 60% | 4. If sales increase to 1,001 units, what would be the increase in net operating income? places.) Increase in net operating income $ 22.00 5. If sales decline to 900 units, what would be the net operating income? Net operating income $ 4,840 7. If the variable cost per unit increases by $1, spending on advertising increases by $1,450, and unit sales increase by 190 units, what would be the net operating income? Net operating income