19 Island Novelties, Inc. of Palau makes two products-Hawn Fantasy and Tahitian Joy Esch products selges per unit and annual sales volume are as follows How Tant Joy Selling price per unit 20 Verile pene per unit 50 Number of unita soldansally 15.000 5.100 pos Pent Fixed expenses total $325,000 per year Required 1. Assuming the sales mix given above, do the following a. Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company whole b. Compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its merginoy percentage 2. The company has developed a new product called Samoan Delight that sells for $45 each and that has variable expenses of $27 per unit. If the company can sell 12.500 units of Samoan Deight without incurring any additional bed expenses a Prepare a revised contribution format income statement that includes Samoan Delight. Assume that sales of the other to products does not change b. Compute the company's revised break-even point in dollar sales. Also, compute its revised murgin of safety in dofars and win of safety percentage Complete this question by entering your answers in the tabs below. Reg 13 Red 28 RA Reg 1 Tribution format income statement showing holar and percent of and Req 1A Req 1B Req 2A Req 2B Assuming the sales mix given above, prepare a contribution format ince for the company as a whole. ook Fint ences Island Novelties, Inc., Contribution Income Stateme Hawaiian Fantasy Amount % Am % % 0 0 % $ Administrative expenses Advertising Beginning merchandise inventory IS Reg 1 Commissions percentage. 2. The company has developed a new product called Samoan Delight that sells for $45 each and that has variable expenses of $27 per unit. If the company can sell 12,500 units of Samoan Delight without incurring any additional fixed expenses: a. Prepare a revised contribution format income statement that includes Samoan Delight. Assume that sales of the other two produc does not change. b. Compute the company's revised break-even point in dollar sales. Also, compute its revised margin of safety in dollars and margir safety percentage Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2A Reg 28 Assuming the sales mix given above, compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage. (Do not round your intermediate calculations. Round your "Margin of safety percentage" final answer to 1 decimal place (.e 0.1234 should be entered as 12.3). Round your other final answers to the nearest whole dollar.) Break-even point in dollar sales Margin of safety in dollars Margin of safety percentage % Req2A > 19 of 21