Sport Ready produces sports socks. The company has foed expenses of $80,000 and variable expenses of $0.80 per package. Each package sels for $1.60. 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.) Sales price per unit Variable cont per unit Contribution margin per unit The contribution margin per package is $0.80 Compute the contribution margin ratio. (Enter the ratio as a whole percent.) Begin by identifying the formula to compute the contribution margin ratio. Contribution margin per unit Sales price per unit Contribution margin ratio The contribution margin ratio is Requirement 2. Find the breakeven point in units and dollars. Begin by identifying the formula to compute the breakeven sales in units using the contribution margin approach Faced expenses Operating income Contribution margin per unit Breakeven sales in units 50 % ) Entor any number in the edit fields and then click Check Answer Breakeven sales in units Requirement 2. Find the breakeven point in units and dollars. Begin by identifying the formula to compute the breakeven sales in units using the contribution margin approach. Fixed expenses Operating income 1+ Contribution margin per unit The breakeven point in units is 100,000 Find the breakeven point in dollars using the contribution margin approach Begin by identifying the formula to compute the breakeven point in dollars. Fixed expenses Operating income + Contribution margin ratio = Breakeven sales in dollars The breakeven point in dollars is $ 160,000 Requirement 3. Find the number of packages Sport Ready needs to sell to earn a $25,000 operating income The number of packages to achieve an operating income of $25,000 is