Sheridan Monograms sells stadium blankets that have been monogrammed with high school and university emblems. The blankets retail for $50 throughout the country to loyal alumni of over 3,800 schools. Sheridan's variable costs are 42% of sales: fixed costs are $116,000 per month (a1) Your answer is correct. Calculate contribution margin ratio. (Round ratio to 2 percentage places, es. 0.38-38%) Contribution margin ratio 58 e Textbook and Media Attempts: 2 of 12 used (a2) Your answer is correct. What is Sheridan's annual breakeven point in sales dollars? (Use the rounded contribution margin ratio calcuated in the previous part to compute breakeven sales.) $ Breakeven sales 2400000 e Textbook and Media Attempts: 2 of 12 used Question 3 of 4 3.13 / 6.25 Sheridan currently sells 124,000 blankets per year. If sales volume were to increase by 15%, by how much would operating Income increase? (Round answer to decimal places, eg. 5.2757 539400 Operating income e Textbook and Media Attempts: 7 of 12 used (c) Your answer is incorrect. Assume that variable costs increase to 20% of the current sales price and fixed costs increase by $12,000 per month. If Sheridan were to raise its sales price by 20% to cover these new costs, what would be the new annual breakeven point in sales dollars? (Round sales price to 2 decimal places, es. 52.75 and final answer to decimal places, es. 5,275.) Breakeven sales e Textbook and Media Save for Later Last saved 10 minutes Saved work will be auto-submitted on Attempts: 3 of 12 used Submit Answer (d) The parts of this question must be completed in order. This part will be able when you complete the part above