You have gathered the following data for your new line of engagement rings. Sales…

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You have gathered the following data for your new line of engagement rings. Sales ……………………………………. $10,000,000 Fixed costs ……………………………… 8,000,000 Variable costs ………………………….. 6,000,000 Mixed costs ……………………………. 2,000,000 60% fixed; 40% variable Unit sales ………………………………. 2,000 Required: (a) Calculate the unit selling price. (b) Calculate the total variable costs. (c) Calculate the total fixed costs. (d) Calculate the breakeven point. (e) Prepare the breakeven income statement.

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