Exercise 5-11 (Static) Missing Data; Basic CVP Concepts (L05-1, LO5-9) Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then compute the missing items.) Required: a. Assume that only one product is being sold in each of the four following case situations: b. Assume that more than one product is being sold in each of the four following case situations: Complete this question by entering your answers in the tabs below. Required A Required B Assume that more than one product is being sold in each of the four following case situations: Case #1 Case #2 Case #3 Case #4 Sales $ 500,000 $ 400,000 $ 600,000 Variable expenses 400,000 93,000 260,000 100,000 Fixed expenses 130,000 420,000 185,000 (5,000) $ 7,000 $ 40,000 $ 20,000 $ Net operating income (loss) Contribution margin ratio (percent) 20% 35% 60% 30%