Ronnie's Repair Shop has a monthly target operating income of $20,000 Variable expenses are 60% of sales, and monthly fixed expenses are $8,000 Read the requirements Requirement 1. Compute the monthly margin of safety in dollars if the shop achieves its income goal Begin by identifying the formula to compute the margin of safety Target sales in dollars Breakeven sales in dollars Margin of safety in dollars (Round intermediate calculations up to the nearest whole dollar and your final answer to the nearest whole dolar) The margin of safety is $50,000 Requirement 2. Express Ronnie's margin of safety as a percentage of target sales. Begin by identifying the formula to compute the margin of safety as a percentage of target sales Margin of safety in dollars Target sales in dollars Margin of safety percentage (Round the percentage to the nearest whole percent) % of target sales The margin of safety percentage is