Exercise 7-16 Working with a Segmented Income Statement: Break-Even Analysis (L07-4, L07-5) [The following information applies to the questions displayed below.) Raner, Harris & Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm has two offices-one in Chicago and one in Minneapolis. The firm classifies the direct costs of consulting jobs as variable costs. A contribution format segmented income statement for the company's most recent year is given: Sales Variable expenses Contribution margin Traceable fixed expenses office segment margin Common fixed expenses not traceable to offices Net Operating income office Total Company Chica Minneapolis $ 937,500 100.0% $ 187,500 100% $750,000 100% 506,250 54.0% 56,250 30 450,000 607 431,250 46.6% 111.250 70% 300,000 10 210,000 22.6% 97,500 525 112,500 15% 221,250 23.6% 33,758 18% $ 187,500 2586 150 000 16.3 $ 71,250 7.6% Exercise 7-16 Part 1 Required: 1a. Compute the companywide break-even point in dollar sales 1-6. Compute the break-even point for the Chicago office and for the Minneapolis office. 1c. Is the company wide break even point greater than, less than or equal to the sum of the Chicago and Minneapolis break even points? ttin tahs heinw