Please help me solve this with detailed step by step explanation and especially can you explain how the Cost of good sold is $$53,000?$ The net operating profit for both the traditional and contribution marhin income statement is $$17,000.1.$ Cigco Co$.$ sells two products, the deluxe model and the standard. The deluxe sells for $$40/$unit$.$ The standard sells for $$20/$unit$.$ Sales are projected to be $1,000$ units for the deluxe and $3,000$ units for the standard. The deluxe model uses $6$ oz$.$ of direct material, the standard model uses $4$ oz$.$ of direct material. The material costs $$\mathrm{.}50/$oz$.$ The deluxe model takes $1/2$ hour of labor to produce, the standard model takes $1/6$ hour of labor to produce. The wage rate is $$12\mathrm{.}00/$hour$.$ Total overhead is $$32,000,$ of which $$24,000$ is fixed. Total selling and administration costs are $$30,000,$ of which $$14,000$ is fixed. Prepare a Traditional Income Statement and a Contribution Margin Income Statement.

Traditional Income Statement Contribution Margin Income Statement

Pl$2.$a$.$ How many units of the Deluxe must be sold to break even? $\_\_\_\_\_\_\_\_\_\_$

$2.$b$.$ How many units of the Standard must be sold to break even? $\_\_\_\_\_\_\_\_\_\_\_$

$2.$c$.$ What is the Contribution Margin Ratio for the Deluxe model? $\_\_\_\_\_\_\_\_\_$

$2.$d$.$ What is the Contribution Margin Ratio for the Standard model? $\_\_\_\_\_\_\_\_\_\_\_$

$2.$e$.$ What sales revenue is required for the Deluxe to achieve $$2,000$ profit for that model? $\_\_\_\_\_\_\_\_\_\_$

$2.$f$.$ What sales revenue is required for the Standard to achieve $$2,000$ profit for that model? $\_\_\_\_\_\_\_\_\_$