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Imaginationtime Park competes with Fun World by providing a variety of rides. Imaginationtime sells tickets at $130 per person as a one-day entrance fee. Variable costs are $13 per person, and fixed costs are $760,500 per month. (Click the icon to view the requirements.) Requirement 1. Compute the contribution margin per unit and the number of tickets Imaginationtime Park must sell to break even. Perform a numerical proof to show that your answer is correct. Begin by selecting the formula labels and then entering the amounts to compute the contribution margin per unit. Contribution margin per unit Begin by selecting the formula labels and then entering the amounts to compute the number of tickets Imaginationtime must sell to break even. (Abbrevision used: CM = contribution margin. Complete all answer boxes. For items with a zero val = Breakeven point in units Perform a numerical proof showing that the breakeven point (number of tickets to break even) that you computed in the preceding step is correct. Begin by selecting the formula and then entering the amounts to compute the target profit to break even. (Complete all answer boxes. For items with a zero value, enter "0".) Target profit Requirement 2. Compute Imaginationtime Park's contribution margin ratio. Carry your computation to two decimal places. Use the contribution margin ratio approach to determine the sales revenue Imaginationtime Park needs to break even. Begin by selecting the formula labels and then enter the amounts to compute the contribution margin ratio. (Enter your answer to the nearest percent, X%.) Contribution margin ratio % Begin by selecting the formula and then entering the amounts to calculate the sales in dollars Imaginationtime needs to break even. (Abbreviation used: CM = contribution margin. Complete all answer boxes. For items with a zero value, enter = Required sales in dollars 14 % = Requirement 3a. Suppose Imaginationtime Park cuts its ticket price from $130 to $52 to increase the number of tickets sold. Compute the new breakeven point in tickets and in sales dollars. The new breakeven point in tickets is The new breakeven point in sales dollars is $. Requirement 4. Ignore Requirements 3a and 3b. Suppose Imaginationtime Park reduces fixed costs from $760,500 per month to $456,300 per month. Compute the new breakeven point in tickets and in sales dollars. The new breakeven point in tickets is The new breakeven point in sales dollars is $1 Requirement 5. Ignore Requirements 3 and 4. If Imaginationtime Park expects to sell 6,650 tickets, compute the margin of safety in tickets and in sales dollars. Begin by selecting the formula labels and then entering the amounts to compute the margin of safety in units. Margin of safety in units Begin by selecting the formula labels and then entering the amounts to compute the margin of safety in units. Margin of safety in dollars Requirement 6. Ignore Requirements 3 and 4. If Imaginationtime Park expects to sell 6,650 tickets, compute the operating leverage. Estimate the operating income if sales increase by 20%. Begin by selecting the formula labels and then entering the amounts to compute the degree of operating leverage for Imaginationtime Park. (Round the degree of operating leverage to four decimal places, X.XXXX.) Degree of operating leverage Estimate the new operating income if total sales increase by 20%. (Round your final answer to the nearest dollar.) The estimated operating income will be $ - x i Requirements 1. Compute the contribution margin per unit and the number of tickets Imaginationtime Park must sell to break even. Perform a numerical proof to show that your answer is correct. 2. Compute Imaginationtime Park's contribution margin ratio. Carry your computation to two decimal places. Use the contribution margin ratio approach to determine the sales revenue Imaginationtime Park needs to break even. 3. a. Suppose Imaginationtime Park cuts its ticket price from $130 to $52 to increase the number of tickets sold. Compute the new breakeven point in tickets and in sales dollars. b. Ignore the information in Requirement 3a. Instead, assume that Imaginationtime Park increases the variable cost from $13 to $52 per ticket. Compute the new breakeven point in tickets and in sales dollars. 4. Ignore Requirements 3a and 3b. Suppose Imaginationtime Park reduces fixed costs from $760,500 per month to $456,300 per month. Compute the new breakeven point in tickets and in sales dollars. 5. Ignore Requirements 3 and 4. If Imaginationtime Park expects to sell 6,650 tickets, compute the margin of safety in tickets and in sales dollars. 6. Ignore Requirements 3 and 4. If Imaginationtime Park expects to sell 6,650 tickets, compute the operating leverage. Estimate the operating income if sales increase by 20%. Print Done