Topper Sports, Incorporated, produces high-quality sports equipment. The company's Racket Division manufactures three tennis rackets-Standard, Deluxe, and Pro-widely used in amateur play. Selected information on the rackets is given below: Selling price per racket Variable expenses per racket: Production Standard $ 50.00 Deluxe Pro $ 75.00 $ 100.00 $ 28.00 $ 33.00 $ 2.50 $ 3.75 $ 35.00 $ 5.00 Selling (5% of selling price) All sales are made through the company's own retail outlets. The Racket Division has the following fixed costs: Fixed production costs. Advertising expense Administrative salaries Total Per Month $ 126,000 106,000 56,000 $ 288,000 Sales, in units, over the past two months were as follows: April May Standard Deluxe 2,000 1,000 8,000 1,000 Pro 5,000 Total 8,000 3,000 12,000 Variable expenses: Total variable expenses Fixed expenses: Required: 1-a. Prepare contribution format income statements for April. 1-b. Prepare contribution format income statements for May. 3. Compute the Racket Division's break-even point in dollar sales for April. 4. Will the break-even point be higher or lower with May's sales mix than with April's sales mix? 5. Assume that sales of the Standard racket increase by $20,600. What would be the effect on net operating income? What would be the effect if Pro racket sales increased by $20,600? Do not prepare income statements; use the incremental analysis approach in determining your answer. Total fixed expenses Topper Sports, Incorporated Income Statement for April Standard Deluxe Pro Total Amount % Amount % Amount % Amount % < Required 1A Required 1B