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: Sales Variable expenses Contribution margin Traceable fixed expenses office segment margin Common fixed expenses not traceable to oftices Net operating income Total Company $ 900,000 100.00 486,000 54.00 414,000 46.00 201,600 22.46 212,400 23.61 144,000 16.00 $ 68,400 7.68 Office Chicago Minneapolis $ 180,000 1008 $ 220,000 1001 54,000 301 432,000 600 126,000 700 288,000 408 93,600 520 108,000 154 $ 32,400 188 $ 180,000 250 Exercise 7-16 Part 1 Required: 1-a. 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. 1-c. Is the companywide break-even point greater than, less than or equal to the sum of the Chicago and Minneapolis break-even points? Complete this question by entering your answers in the tabs below. Exercise 7-16 Part 1 Required: 1-a. Compute the companywide break-even point in dollar sales. 1-b. Compute the break-even point for the Chicago office and for the Minneapolis office. 1-c. Is the companywide break-even point greater than, less than or equal to the sum of the Chicago and Minneapolis break-even points? Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req 10 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 Exercise 7-16 Part 1 Required: 1-a. Compute the companywide break-even point in dollar sales. 1-b. Compute the break-even point for the Chicago office and for the Minneapolis office. 1-c. Is the companywide break-even point greater than, less than or equal to the sum of the Chicago and Minneapolis breal points? Complete this question by entering your answers in the tabs below. Reg 1A Reg 13 Req 1C 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 Exercise 7-16 Part 1 Required: 1-a. Compute the companywide break-even point in dollar sales. 1-b. Compute the break-even point for the Chicago office and for the Minneapolis office. 1-c. Is the companywide break-even point greater than, less than or equal to the sum of the Chicago and Minneapolls break-even points? Complete this question by entering your answers in the tabs below. Req 1 Reg 18 Regic Is the companywide break-even point greater than, less than or equal to the sum of the Chicago and Minneapolis break-even points? Greater than OLess than O equal to