Gary Johnson is evaluating a business opportunity to sell premium car wax at vintage car shows The wax is sold in 64-ounce tubs. Gary can buy the premium wax at a wholesale cost of $33 per tub. He plans to sell the premium wax for $73 per tub. He estimates fixed costs such as travel costs booth rental cost, and lodging to be $720 per car show Read the requirements 30r 5 (5 complete)▼ Score: 0.31 of 2 pts & E7-37A (similar to) Gary Johnson is evaluating a business opportunity to sel premium car wax at vintage car shows. The wax i sold in 64-ounce tubs Gary can buy the premium wax at a wholesale o be $720 per car show Read the Requirement 1. Determine the number of tubs Gary must sell per show to break even. Begin by identifiying the formula to compute the sales in units at various levels of operating income using the contribution margin approach Fixed expensesOperating incomeContrbution margin per unitSales in unts Gary must sell 18 tubs per show to breakeven Determine the sales volume in units necessary to earn the desired proft assuming Gary wants to ean a profit of $1,080 per show Gary muat sell ubper show to eam a prokit of $1,080 per show Requirements 1. Determine the number of tubs Gary must sel per show to break even 2. Assume Gary wants to earn a profit of $1,080 per show a. Determine the sales volume in units necessary to earn the desired proft b. Determine the sales volume in dollars necessary to eam the desired profit c. Using the contribution margin format, prepare an income statement (condensed version) to confirm your answers to parts a and b 3. Determine the margin of safety between the sales volume at the breakeven point and the sales volume required to earn the desired proflit Determine the margin of safety in both sales dollars, unts, and as a percentage Print Done