Wolsey industries lnc, expects to maintain the same inventories at the end of 20 is as at the beginning of the year. The total of all peoduction costs for the year is therelore assumed to be ocual to the cost of goods sold. Wit this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary roport of these estimates is as follows: It is expected that 21,875 units will be sold at a price of $160 a unit. Maximum sales within the relevant range are 27.000 units. Required: 1. Prepare an estimated income statement for 20Y3. Reler to the Labeis and Amount Descriptions sist provided for the exact wording of the answer choices for text enthies. Enter all amounts as positive values. 2. What is the expected contribution margin ratio? 3. Determine the break-even sales in units and dollars. It is expected that 21,875 units will be sold at a price of $160 a unit. Maximum sales within the are 27,000 units. Required: 1. Prepare an estimated income statement for 20Y. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for fext entries. Enter all amounts as positive values. 2. What is the expected contribution margin ratio? 3. Determine the break-even sales in units and dollars 4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? 5. What is the expocted margin of safely in dollars and as a percentage of sales? 6. Determine the operating leverage. Aound to one decimat place. Wolsey industries inc Eslimated Income Statement For the Year Ended December 31, 20Y3 1 1 Dirct materials: 5. Direct labor 4. Factory overhead \begin{tabular}{|l|} \hline i \\ \hline 1 \\ \hline (label) \end{tabular} 11. Selling experses: Instructions Labels and Amount Descriptions Income Statement Addilional nuestions Income Slatement 8 (Label) 9. Selling expenses: 10 11 12 13 14 15. Adainistrative expenses: 16 17 11 19 20 Total expenses 21 2. What is the expocted contribution margin ratio? 3. Determine the break-even sales in units and dollars. Units units Dollars. 4. Construct a cosf-volume-profit chant on your own puper. What is the break-even sales? 5. What is the expected margin of safety in dollars and as a percentage of sales? Dollars Percentage 6. Determine the operating leverage. Round to one decimal place