Sport Ready produces sports socks. The company has fixed expenses of $$85,000$ and variable expenses of $$0\mathrm{.}85$ per package. Each package sells for $$1\mathrm{.}70.$

Read the requirements.

Requirement $1.$ Compute the contribution margin per package and the contribution margin ratio.

Begin by identifying the formula to compute the contribution margin per package. Then compute the contribution margin per package. $($Enter the amount to the nearest cent.$)$

Requirements

Compute the contribution margin per package and the contribution margin

ratio.

Find the breakeven point in units and in dollars.

Find the number of packages Sport Ready needs to sell to earn a $$25,500$

operating income.