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Homework: HW #5 - Chapter 7 Score: 0.14 of 1 pt 5 of 10 (5 complete) HW Score: 17. %) E7-25A (similar to) Qu Grover's Steel Parts produces parts for the automobile industry. The company has monthly fixed expenses of $660,000 and a contribution margin of 80% of revenues. Read the requirements Requirement 1. Compute Grover's Steel Parts' monthly breakeven sales in dollars. Begin by identifying the formula Fixed expenses Operating income Contribution margin ratio = Breakeven sales in dollars Compute Grover's Steel Parts' monthly breakeven sales in dollars. (Round your answer up to the nearest whole number.) The breakeven sales in dollars is Requirements 1. Compute Grover's Steel Parts' monthly breakeven sales in dollars. 2. Use the contribution margin ratio to project operating income (or loss) if revenues are $500,000 and if they are $1,030,000. 3. Do the results in Requirement 2 make sense given the breakeven sales you computed in Requirement 1? Explain. Print Done Enter any number in the edit fields and then click Check