Smithen Company, a wholesale distributor, has been operating for only a few months. The company sells three products-sinks, mirrors, and vanities. Budgeted sales by product and in total for the coming month are shown below based on planned unit sales as follows: Break-even point in sales dollars = Fixed expenses/CM ratio = exist223.600/0.52 = exist430.000 Break-even point in unit sales: Total Fixed expenses/Weighted-average CM per unit = exist223.600/exist130* = 1.720 units *(exist168 times 0.50) + (exist40 times 0.25) + (exist144 times 0.25) As shown by these data, operating income is budgeted at exist36, 400 for the month, break-even sales dollars at exist430,000, and break-even unit sales at 1, 720. Assume that actual sales for the month total exist504,000 (2, 100 units), with the CM ratio and per unit amounts the same as budgeted. Actual fixed expenses are the same as budgeted, exist223, 600. Actual sales by product are as follows: sinks, exist126,000 (525 units): mirrors, exist210,000 (1, 050 units): and vanities, exist168,000 (525 units). Required: 1. Prepare a contribution format income statement for the month based on actual sales data. Present the income statement in the format shown above. 2. Compute the break-even point in sales dollars for the month, based on the actual data. 3. Calculate the break-even point in unit sales for the month, based on the actual data. 4. Considering the fact that the company exceeded its exist500,000 sales budget for the month, the president is shocked at the results shown on your income statement in (1) above Prepare a brief memo for the president explaining why both the operating results and the break-even point in sales dollars are different from what was budgeted