FunTime Cruiseline Data Set used for S7-1 through S7-10: FunTime Cruiseline offers nightly dinner cruises departing from several cities on the eastern coast of the United States including Charleston, Baltimore, and Alexandria. Dinner cruise tickets sell for $50 per passenger. FunTime Cruiseline's variable cost of providing the dinner is $30 per passenger, and the fixed cost of operating the vessels (depreciation, salaries, docking fees, and other expenses) is $210,000 per month. The company's relevant range extends to 20,000 monthly passengers. 1. S7-1Compute unit contribution margin and contribution margin ratio Learning ObjectiveI Use the information from the FunTime Cruiseline Data Set to compute the following a. What is the contribution margin per passenger? b. What is the contribution margin ratio c. Use the unit contribution margin to project operating income if monthly sales total 17,000 passengers Use the contribution margin ratio to project operating income if monthly sales revenue totals $595,000 d. 2. S7-2Project change in income (Learning ObjectiveI Use the information from the FunTime Cruiseline Data Set. If Fun Time Cruiseline sells an additional 700 tickets, by what amount will its operating income increase (or operating loss decrease)? S7-3Find breakeven (Learning Objective 2 Use the information from the FunTime Cruiseline Data Set to compute the number of dinner cruise tickets it must sell to breakeven and the sales dollars needed to breakeven. S7-4Find target profit volume (Learning Objective 2) Use the information from the FunTime Cruiseline Data Set. If FunTime Cruiseline has a target operating income of $30,000 per month, how many dinner cruise tickets must the company sel1