For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an = sign. 2. Reference cells, instead of entering values. Example: =B3+C3 X McGraw Hill Excel Question - Saved v Search for tools, help, and more (Alt + Q) A2 X V fx Chang Corporation sells products for $120 each that have variable costs of $80 per unit. Chang's annual fixed cost is $720,000. A B C D E F G H K L M N 1 2 Chang Corporation sells products for $120 each that have variable costs of $80 per unit. Chang's $120 $80 3 annual fixed cost is $720,000. $720,000 4 5 Required 6 Use the per-unit contribution margin approach to determine the break-even point in units and dollars. 7 Note: Use the cells from the given information to complete this question. 8 9 Break-even point in units 10 Break-even point in dollars 11 12 13X McGraw Hill Excel Question - Saved v Search for tools, help, and more (Alt + Q) File Home Insert Draw Formulas Data Review View Help Editing v Comments 5 v [ v Calibri (Body) 11 v B V v ... Ev Currency V APV . . . D10 v X V fx =13/33.33 A B C D E F G H McGraw Hill X 2 Chang Corporation sells products for $120 each that have variable costs of $80 per unit. Chang's an 3 fixed cost is $720,000. Your answer is complete but 4 5 Required not entirely correct. 6 Use the per-unit contribution margin approach to determine the break-even point in units and doll: 7 Note: Use the cells from the given information to complete this question. Question Title 8 9 Break-even point in units ###########HX IE Exercise 11-17A (Static) Break-even 10 Break-even point in dollars X point LO 11-5 11 12 13 Legend 14 Students: The scratchpad area is for you to do any additional work you need to solve this question ( Correct Answer 15 Nothing in this area will be graded, but it will be submitted with your assignment. 16 x Incorrect Answer 17 E Graded Worksheet + Continue WorkingExcel formula: Breakeven point in units: =J3l40 Breakeven point in dollars: =J3l33.33% Results: Breakeven point(in units): 18,000 units Breakeven point(in dollars}: $2,160,000 Explanation: Step 1: It should be noted that Breakeven sales(in units) are computed using the iormuale as: Fixed cost / Contribution per unit = Breakeven point(in Units} Also It should be noted that Breakeven salesiin dollars]I are computed using the iormuale as: Fixed cost / Contribution Margin ratio: Breakeven point(in Units} Step 2: Contribution per unit = Sales Price variable cost = $120 $80 = $4.0 Contribution Margin ratio [CM Ratio) = Contribution I Sales \"100 = $40 / $120 *100 = 33.33% Break-even poi nt(in units} = $120,000 I $40 = 18,000 units Break-even point(in dollars) = $?20,000 I 33.33% = $2,160,000 Another method: Break-even poi nt(in dollars) is nothing but the sale value of Break-even point(in units) i.e. 18,0 00 units * $120 = 52,160,000