READ ONLY - This is an older file for... - Question 4 (16 points) Ursula's Toy Manufacturing makes aluminum serving carts for use in their underwater submarine rides. During 2013, the following costs were incurred: PERCENT PERCENT AMOUNT FIXED VARIABLE $440,000 Direct material 100 90,000 Direct labor 100 70,000 Variable manufacturing overhead 100 Fixed manufacturing overhead 800,000 100 Selling costs 55 950,000 45 Administration costs 15 570,000 85 Sales for 2014 totaled $3,164,000 and there were no beginning and ending inventories. Required: ALL CALCULATIONS MUST BE SHOWN 1) Prepare a contribution income statement for the year ended December 31, 2013. 2) Determine the sales required to break even. 3) Determine the sales required to make a $420,000 profit per year. READ ONLY - This is an older file for... - Question 4 (16 points) Ursula's Toy Manufacturing makes aluminum serving carts for use in their underwater submarine rides. During 2013, the following costs were incurred: PERCENT PERCENT AMOUNT FIXED VARIABLE $440,000 Direct material 100 90,000 Direct labor 100 70,000 Variable manufacturing overhead 100 Fixed manufacturing overhead 800,000 100 Selling costs 55 950,000 45 Administration costs 15 570,000 85 Sales for 2014 totaled $3,164,000 and there were no beginning and ending inventories. Required: ALL CALCULATIONS MUST BE SHOWN 1) Prepare a contribution income statement for the year ended December 31, 2013. 2) Determine the sales required to break even. 3) Determine the sales required to make a $420,000 profit per year