Margin of Safety a. If Canace Company, with a break-even point at $262,700 of sales, has actual sales of $370,000, what is the margin of safety expressed (1) in dollars and (2) as a percentage of...

Margin of Safety

a.If Canace Company, with a break-even point at $262,700 of sales, has actual sales of $370,000, what is the margin of safety expressed (1) in dollars and (2) as a percentage of sales? Round the percentage to the nearest whole number.

1.$.       fill in the blank 1

2.
%.       fill in the blank 2

b.If the margin of safety for Canace Company was 40%, fixed costs were $1,624,800, and variable costs were 60% of sales, what was the amount of actual sales (dollars)?

(Hint:
Determine the break-even in sales dollars first.)
3.$.          fill in the blank 3