Exercise 7-16 Working with a Segmented Income Statement; Break-Even Analysis [LO7-4, LO7-5) (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: office Total Company Chicago Minneapolis Sales $1,050,000 100.0% $ 210,000 100% $ 840,000 100% Variable expenses 567, 000 54.0% 53,000 30% 504,000 Contribution margin 483,000 46.0% 147,000 70% 336, 000 40% Traceable fixed expenses 235, 200 22.4% 109, 200 126,000 15% office segment margin 247,800 23.6% $ 37,800 18% $ 210,000 25% Common fixed expenses not traceable to offices 168,000 16.0% Net operating income $ 79, 800 7.6% 60% 52% Exercise 7-16 Part 1 Required: -a. Compute the companywide break-even point in dollar sales b. Compute the break-even point for the Chicago office and for the Minneapolis office Req 1A Req 18 Req 1C Compute the companywide break-even point in dollar sales. (Round "CM ratio" to 2 decimal places and final answer to the nearest whole dollar amount.) Break-even point in dollar sales Reg 1A Reg 1B Regic Compute the break-even point for the Chicago office and for the Minneapolis office. (Round "CM ratio" to 2 decimal places and final answers to the nearest whole dollar amount.) Break-Even Point Chicago office Minneapolis office Reg LA Roq 18 Req 1C Is the companywide break-even point greater than, less than or equal to the sum of the Chicago and Minneapolis break-even points? O Greater than Less than Equal to