T1appy Toes produces sports socks. The company has fixed expenses of $100. 000 and varlable expenses of 51.00 por package. Each packinge selks for 52.09. Read the repuzements Roquitement 1. Compute the contribution margin por packagat and the contribution margin ratio Begin by comptuting the contrbution miaigin per packagu Then computa the contibution margin per packnge. (Enter the amount to the neazest cent.). the contribution margin per packago is The corterbutoin margin rotio is Requitement 2. Find thet beeakecen point in amits and dollare Find the braakeven paint in destris uking the contrieutian margin appoach: The brtank-vitn polit and dathits is Reguirement 3. Find the number of packages Hoppy Toes needsto tall to carn a 523.000 operaing thcome The conaribution margin per package is Compute the contribution margin ratio, (Eater the ratio as a whole petcent) The contribution thatghit ratio ia Requirement?, Find the bceakeven point in units and dollars. Fiegin by computing the breakoven sabes in units using the contribution marph appoach. Ihe breakewan point in unititite Find the breakioven point in Collars using the contribution margin appronch the breakeunt paint in cottarifis (c) Time fiemaininci- od at it amount to the nearest cent.) 1. Compute the contribution margin per package and the contribution margin ratio 2. Find the breakeven point in units and in dollars. 3. Find the number of packages Happy Toes needs to sell to earn a $23.000 operating income