Problem 2-2 point problem Lasley Cash, Ltd. operates a chain of exclusive ski hat boutiques in the western United States. The stores purchase several hat styles from a single distributor at $24 each. All other costs incurred by the company are fixed. Lasley Cash, Ltd. sells the hats for $50 each. Calculate the Variable Cost Ratio The Contribution Margin Ratio + The Variable Cost Ration? Show how you arrived at your answer for the Contribution Margin Ratio Problem 3-10 point problem Breakeven analysis-Tom Parker owns and operates FirstCakes, a bakery that creates personalized birthday cakes for a child's first birthday. The cakes, which sell for $40 and feature an edible picture of the child, are shipped throughout the country. A typical month's results are as follows: Sales revenue Variable expenses $1,680,000 1,260,000 Contribution margin 420,000 224,000 $196,000 Fixed expenses Operating income Required: 1. How many units are being sold at the current amount of Sales of $1,680,000 2. What is the Variable Cost Per Unit? 3. What is the Contribution Margin Per Unit?