The "ABC" Ltd Pty has the following information:Total sales $160,000.00Fixed costs $59,000.00Variable costs $75,000.00Total costs $?Required:Student should answer the following questions:Calculate the contribution margin rounded to two decimals. (0.5 marks)Calculate the break-even point (BEP). (0.5 marks)Provide a full explanation of the break-even analysis theory including: (6 marks)Explain the break-even point.Define and explain fixed costs and variable costs.

Time left 1:24:38 Question 1 (15 marks) Part A: Break-even sales. (7 marks) The "ABC" Ltd Pty has the following information: . Total sales $160,000.00 . Fixed costs $59,000.00 . Variable costs $75,000.00 . Total costs $ ? Required: Student should answer the following questions: 1. Calculate the contribution margin rounded to two decimals. (0.5 marks) 2. Calculate the break-even point (BEP). (0.5 marks) 3. Provide a full explanation of the break-even analysis theory including: (6 marks) o Explain the break-even point. Define and explain fixed costs and variable costs