Trendy Toes produces sports socks. The company has fixed expenses of $85,000 and variable expenses of $1.20 per package. Each package sells for $2.00. Requirements Compute the contribution margin per package and the contribution margin ratio. Find the breakeven point in units and in dollars. Find the number of packages Trendy Toes needs to sell to earn a $26,000 operating income. 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) The Contribution margin per package is Compute the contribution margin ratio. (Enter the ratio in decimal format rounded to two decimal places) Begin by identifying the formula to compute the contribution margin ratio. Contribution margin ratio The contribution margin ratio is Requirement 2. Find the breakeven point in units and dollars Beg n by identifying the formula to compute the breakeven sales in units using the contribution margin approach Trendy Toes produces sports socks. The company has fixed expenses of $85,000 and variable expenses of $1.20 per package. Each package sells for $2.00. Requirements Compute the contribution margin per package and the contribution margin ratio. Find the breakeven point in units and in dollars. Find the number of packages Trendy Toes needs to sell to earn a $26,000 operating income. 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. The breakeven point in units is Find the breakeven point in dollars using the contribution margin approach. Begin by identifying the formula to compute the breakeven point in dollars. Breakeven sales in dollars The breakeven point in dollars is $ Requirement 3. Find the number of packages Trendy Toes needs to sell to earn a $26,000 operating income. The number of packages to achieve an operating income of $26,000 is