The Stocking Company buys hiking socks for $14 per pair and sells them for $20. Management budgets monthly fixed costs of $12,000 for sales volumes between 0 and 12,000 pairs of socks. Read the requirements Requirement 1. Calculate the breakeven point in units. Select the labels and enter the amounts to find the breakeven point in units. (Enter a "0" for any zero amounts. Abbreviation used: CM = contribution margin.) )= Required sales in units ) = = - Requirements Consider each of the following questions separately by using the foregoing information each time. 1. Calculate the breakeven point in units. 2. The Stocking Company reduces its sales price from $20 per pair to $16 per pair. Calculate the new breakeven point in units. 3. The Stocking Company finds a new supplier for the socks. Variable costs will decrease by $6 per pair. Calculate the new breakeven point in units. 4. The Stocking Company plans to advertise in hiking magazines. The advertising campaign will increase total fixed costs by $9,000 per month. Calculate the new breakeven point in units. 5. In addition to selling hiking socks, The Stocking Company would like to start selling sports socks. The Stocking Company expects to sell one pair of hiking socks for every three pairs of sports socks. The Stocking Company will buy the sports socks for $13 per pair and sell them for $19 per pair . Total fixed costs will stay at $12,000 per month. Calculate the breakeven point in units for both hiking socks and sports socks