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Office Update To keep up-to-date with security updates, fixes, and improvements, choose Chec D30 x fx A B D 1 Part 1 Total Per unit Percentage 20 14 22 3 Sales (60,000 units) 4 Less: Variable costs 5 Contribution margin 6 Less: Fixed costs 7 Net Income 8 9 Part 2 10 Break-even in units 11 Break-even in sales 12 13 14 Part 3 15 Target before-tax income 16 Target income volume (units) 17 18 19 Part 4 20 Target after-tax income 21 Target income volume (units) 22 + 23 Part 5 24 Margin of safety 25 26 Part 6 27 Sales 28 Less: Variable costs Sheet1 Sheet2 1,500,000 1,800,000 Units 2,500,000 Sheets + C C Project 1 Learning objective: This project is designed for you to learn how to compute contribution margin, and conduct break-even and what of analyses by using Excel spreadsheets. Requirements: Please complete the following problem by performing calculations in Excel spreadsheets. You will have to reference to the data and set formulae in Excel spreadsheets. If you do not meet this requirement, you will be asked to re-work on the project. This project accounts for 6% of your overall grade. Due date: February 19th, 11:59 pm on Blackboard Problem set Jackson Inc. began business in 2020, and its sales in 2020 were 50,000 64-GB flash drives. The selling price per flash drive was $20. Variable cost per unit was $14. Annual fixed costs were $288,000. 1. Please use the format of a contribution margin income statement to calculate the contribution margin (in dollars), unit contribution, and contribution margin ratio for Jackson Inc. You can refer to Example 1 in the textbook. Total Per Unit Percentage Sales (xox units) Less: Variable costs Contribution margin Less: Fixed costs Net Income 2. What will be the break-even point in units and in dollars if we assume that Jackson Inc. sells this type of flash drive only? 3. How many units must the company sell to earn a pre-tax income of $1,500,000? 4. If the company's tax rate is 25 percent, how many flash drives must be sold to earn an after-tax profit of $1,800,000? 5. What is the company's margin of safety (in percent) based on the sales of 60,000 flash drives? 6. Assume that there is no change in fixed costs. What will be the expected net income if this company has the sales revenue of $2,500,000? You can also review some of the examples in Chapter 4 Examples.xlsx posted on Blackboard

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