Sock It Co produces sports socks. The company has fixed costs of $100.000 and variable costs of 51 20 per package. Each package sells for $2.00 Requirements 1. Compute the contribution margin per package and the contribution margin ratio. (Round your answers to two decimal places) 2. Find the breakeven point in units and in dollars, using the contribution margin approach LUU 1:20 0.00 Now select the labels and enter the amounts to calculate the contribution margin ratio (Entot amounts in the formula to two decimal places Enter the contribution margin ratio as a whole percentage. Abbreviation used CM contribution margin) CM per unit 0.80 Net sales revenue per unit 2.00 CM roto 103 Requirement 2. Find the breakeven point in units and in dollars using the contribution margin approach Begin by selecting the labels and entering the amounts to find the breakoven point in units, using the contribution margin approach (Enter amounts in the formula to two decimal place Enter for any zero amounts Abbreviation Used CM contribution margin Required sales in units