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Please solve the following Check 7 Exercise 20.4 (Algo) Computing the Break-Even Point (LO20-4,...

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Accounting

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Check 7 Exercise 20.4 (Algo) Computing the Break-Even Point (LO20-4, LO20-5, LO20-6) Finley Corporation has monthly fixed costs of $70,000. It sells two products for which it has provided the following information. 10 points Skloped Contribution Margin $9 4 Sales Price $15 20 Product 1 Product 2 eBook Print References a. What total monthly sales revenue is required to break even if the relative sales mix is 30 percent for Product 1 and 70 percent for Product 2? (Hint: Determine the contribution margin ratio for each product.) (Round your answer to the nearest dollar amount.) b. What total monthly sales revenue is required to earn a monthly operating income of $16,000 if the relative sales mix is 20 percent for Product 1 and 80 percent for Product 2? (Round your answer to the nearest dollar amount.) a. Break even sales revenue b. Target sales revenue

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