Wesley Company manufactures and sells a single product. The company's income statement at sales level of 28,000 units for last quarter follows: Sales Less: Variable expenses Contribution margin Less: Fixed expenses Net operating income Total $1,400,000 1, 176, 000 224,000 112,000 $ 112,000 Required: 1. What is the monthly break-even point in units sold and in sales dollars? (Round your intermediate calculations and final answers to the nearest whole number.) Break-even Point 14,000 Break-even point in units sold Break-even point in sales dollars 2. Without resorting computations, calcul ontribution margin at the break-even point for the quarter. Total contribution margin 3-a. How many units would have to be sold each quarter to earn a target profit of $35,200? Use the formula method. Units sold to attain target profit 3-b. Verify your answer by preparing a contribution format Income statement at the target level of sales. Total Unit Sales 147,200 $ 147,200 4. Refer to the original data. Compute the company's margin of safety for the quarter In units, in dollars and as a percentage of last quarter's sales. (Round "Percentage" answer to 1 decimal place, (.e., 0.123 should be considered as 12.3%).) Units Dollars Percentage Margin of safety 5. What is the company's CM ratio? If quarterly sales decrease by $22,400 and there is no change in fixed expenses, what would you expect the quarter's net operating income to be? (Do not prepare an income statement; use the CM ratio to compute your answer.) CM ratio Net operating income