Sandy Bank, Incorporated, makes one model of wooden canoe. And, the information for it follows: Number of canoes produced and sold Total costs Variable costs Fixed costs Total costs 450 650 800 $ 69,750 $ 468,000 $ 537,750 $ 100,750 $ 468,000 $ 568,750 $ 124,000 $ 468,000 $ 592,000 Cost per unit Variable cost per unit Fixed cost per unit $ 155.00 1,040.00 Total cost per unit $ 1,195.00 $ 875.00 $155.00 720.00 $155.00 585.00 $ 740.00 Sandy Bank sells its canoes for $375 each. Required: 1. Suppose that Sandy Bank raises its selling price to $500 per canoe. Calculate its new break-even point in units and in sales de 2. If Sandy Bank sells 1,500 canoes, compute its margin of safety in dollars and as a percentage of sales. (Use the new sales pric $500) 3. Calculate the number of canoes that Sandy Bank must sell at $500 each to generate $110,000 profit.