3. If variable costs are reduced by $3 and fixed costs increase by $72,000 annually, what Juvanable for sale each day. ncy peicenage are the monthly breakeven revenues? Problem 3 Matt Schmidt has...

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Extracted text: 3. If variable costs are reduced by $3 and fixed costs increase by $72,000 annually, what Juvanable for sale each day. ncy peicenage are the monthly breakeven revenues? Problem 3 Matt Schmidt has spent $750 for a tent, table, and chaírs for his lemonade stand. He figures sell a glass of lemonade in the park to Little League players for $.75. His cost per ink is estimated to be $.20. He also has to cover napkins, cups, and other variable costs estimated to be $.05 per glass of lemonade sold. He will open his business on June 1 (a Monday) and be open five days each week for the summer months of June-August. He will pay his parents $2 each day to transport him and his materials to and from the park. Matt projects daily sales of 100 glasses of lemonade. 000.000 000.00 C00 001 0.01 Required: 1. What is his contribution margin? 2. What is his breakeven point (in units), given that he wants to cover all of his costs? 3. What day of the summer will he break even? w