Wolsey Industries Inc. expects to maintain the same inventories at the end of 2016 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows Estimated Fixed Estimated Variable Cost (per unit sold) Productions 1 Direct materials 566.00 32.00 4 Direct labor 3 Factory overhead $190,000.00 20.00 . Selling expenses Sales salaries and commissions 102.000.00 Advertising 37.000.00 * Travel 10.000.00 Miscellaneous selling expense 2800.00 Administrative expenses 1 158.400.00 12,000.00 2.00 Office and officers' salaries Supplies Miscellaneous administrative perse 14,000.00 # Income Statement A Prepare an estimated income statement for 2016. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries Wolsey Industries Inc. Estimated Income Statement For the Year Ended December 31, 2016 B. What is the expected contribution margin ratio? Determine the break even sales in units and dollars. Start by using the contribution margin ratio (part B) and then round your answers to the nearest whole number Units units Dollars D. Construct a cost-volume-profit chart on your own paper. What is the break even sales? 11 Administrative expenses: 12 Office and officers' salaries 13 Supplies 138,400.00 12,000.00 2.00 14 Miscellaneous administrative expense 14,000.00 1.00 15 Total $511,200.00 $128.00 expected that 21,300 units will be sold at a price of $160 a unit. Maximum sales within the relevant range are 25,900 units. Required: A. Prepare an estimated income statement for 2016. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. B. What is the expected contribution margin ratio? C. Determine the break-even sales in units and dollars. Round your answers to the nearest whole number. D. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? E. What is the expected margin of safety in dollars and as a percentage of sales? Round your answers to the nearest whole number. F. Determine the operating leverage. Round to one decimal place