Ricky's Repair Shop has a monthly target profit of $17,000. Variable costs are 60% of sales, and monthly fixed costs are $8,000. Requirements 1. Compute the monthly margin of safety in dollars if the shop achieves its income goal. 2. Express Ricky's margin of safety as a percentage of target sales. 3. Why would Ricky's management want to know the shop's margin of safety? Requirement 1. Compute the monthly margin of safety in dollars if the shop achieves its income goal. Select the labels and enter the amounts to compute Ricky's Repair Shop's monthly margin of safety in dollars. = Margin of safety in dollars Requirement 2. Express Ricky's margin of safety as a percentage of target sales. (Enter your answer as a whole percent.) The margin of safety as a percentage of target sales is: Requirement 3. Why would Ricky's management want to know the shop's margin of safety? Managers can use margin of safety to assess the %. to the company when there is a possibility of Making this assessment helps managers