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: Units Percentage Sinks 1,000 50% Mirrors 500 25% Vanities 500 25% Total 2,000 100% Percentage of total sales Sinks 48% Product Mirrors 20% Sales $336,000 100.00% $140,000 Variable expenses 70,000 20.83% 72,000 Contribution margin $266,000 79.17% $ 68,000 Vanities 32% 100.00% $224,000 100.00% $700,000 51.43% 88,000 39.29% 214,950 48.57% $136,000 Total 100% 60.71% 485,050 100.00% 30.71% 69.29% Contribution margin per unit $ 266.00 $136.00 $ 272.00 Fixed expenses Operating income 444,650 $ 40,400 Break-even point in sales dollars Break-even point in unit sales: Total Fixed expenses Weighted-average CM per unit Fixed expenses Overall CM ratio. $444,650 0.69 = $641,696.73 $444,650 $235.00+ 1,892.13 units ($266.00 0.50) + ($136.00 x 0.25) + ($272.00 x 0.25) As shown by these data, operating income is budgeted at $40,400 for the month, break-even sales dollars at $641,696.73, and break- even unit sales at 1,892.13. even unit sales at 1,892.13. Assume that actual sales for the month total $705,600 (2,100 units), with the CM ratio and per unit amounts the same as budgeted. Actual fixed expenses are the same as budgeted, $444,650. Actual sales by product are as follows: sinks, $176,400 (525 units); mirrors, $294,000 (1,050 units); and vanities, $235,200 (525 units). Required: 1. Prepare a contribution format income statement for the month based on actual sales data. (Round your answers to 2 decimal places.) Check my w SMITHEN COMPANY Contribution Margin Income Statement Product Sinks Mirrors Vanities Percentage of total sales % % % Total % % % % % % % % $ 0.00 0.00% $ 0.00 0.00 % $ 0.00 0.00 % 0.00 0.00% Operating income (loss) $ 0.00 2. Compute the break-even point in sales dollars for the month, based on the actual data. (Round your percentage answers to nearest whole percent. Round other intermediate values and final answer to the nearest whole dollar.) Break-even point in sales dollars