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Cost-Volume-Profit Analysis Walters, LLC produces Pistol Pete puppets. Each puppet sells for $25.00. Variable unit costs (variable costs per puppet) are as follows: Fabrie $ 9.00 Stuffing $ 2.00 Other materials $ 2.25 Packaging material $ 1.50 Selling commission $ 0.25 Fixed overhead costs are $30,000 per year. Fixed selling and administrative costs are $20,000 per year. Walters produced and sold 20,000 puppets last year. Required: 1. What is the variable cost per puppet? Answer: 2. What is the variable cost ratio? Answer: 3. What is the contribution margin per puppet? Answer: 4. What is the contribution margin ratio? Answer: 5. How many puppets must Walters sell to break even? Answer: 6. What is the break-even sales revenue? Answer: 7. Using the contribution margin format, what was Walters' operating income last year? Answer: 3. Assume the company has a desired net income of $350,000. How many sales dollars must the company cam