Requirements 1. Compute Graham's Steel Parts' monthly breakeven sales in dollars. 2. Use the contribution margin ratio to project operating income (or loss) if revenues are $510,000 and if they are $1,000,000. 3. Do the results in Requirement 2 make sense given the breakeven sales you computed in Requirement 1 ? Explain. Graham's Steel Parts produces parts for the automobile industry. The company has monthly fixed expenses of $620,000 and a contribution margin of 70% of revertaes Read the teguitementit- Requirement 1. Compute Graham's Steel Parts' monthly breakeven sales in dollars. Begin by isfentifying the formula. Compute Graham's Steel Parts' monthly breakeven sales in dollars. (Round your answer up to the nearest whole number.) The breakeven sales in dollars is Requirement 2. Use the contribution margin ratio to project operiting income (0l loss) if revenues are 5510,000 and if they are 31,000,000. 51.000,000. Efiner the conirtution margn ratic as a whole percent, Enier lassns with a minus sign or parentheses? Requirement 3. Do the results in Requirement 2 make sense given the breakeven sales you computed in Requirement 1 ? Explain. Since $510,000 is the breakeven point, it Since $1,000,000 is the breakeven point