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CVP Analysis Part 1 Turtleton Company produces computer chips for animated toys. Selected sales and expense information for the most recent month, with sales of 10,500 units, is given below. Variable selling and administrative expenses are $6 per unit. Total Sales Direct Materials Gross Profit Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead $2,050,000 310,000 850,000 840,000 70,000 30,000 320,000 Net Income Fixed Selling and Administrative Expenses 470,000 statement: Traditional Income Statement Total . . CVP Income Statement Total Unit . > . Turtleton Company Part Using the information provided about Turtleton Company and your answers from Part I, answer the following questions. Label and Show your work: Time left 1:35:35 7 A B 1 1) What are total manufacturing costs for this month? 2) What is the contribution margin per chip? 3) What is the company's contribution margin ratio? 4) How many computer chips does the company need to sell to break-even? 5) The President wants to increase net income by $350,000. What would total sales have to be? 6) The company is considering changing Direct Materials suppliers, and estimates that direct materials cost per unit would decrease by $3. How would the reduction in cost affect the break-even point