Project 1: CVP Income Statement (10 points) Instructions: Prepare your solutions in Excel, and upload your Excel file to Moodle by the deadline specified by your instructor. Do NOT email your filel The following information pertains to Crescent City, a lown mower manufacturer 1. Budgeted production costs for the coming year a. Direct materials per mower b. Direct labor per mower c. Variable overhead per mower d. Total fixed overhead $ 250 130 70 31,200 2. Budgeted selling and administrative costs for the coming year: Fixed selling & adm expense a. b. $ 52,000 Sales commission per mower 50 3. In the coming year, Crescent City plans to produce and sell 1,500 mowers at a price of $630 each. Instructions for Project 1: 1. Prepare a CPV income statement 2. Calculate the breakeven point in units and sales dollars. 3. Calculate the margin of safety. 4. Calculate the margin of safety ratio. 5. If Crescent City wants to earn net income of $100,000, how many units must it sell