Explain the concept of break-even point. Why is it important? Explain the concept of contribution margin. Why is it important? What is the formula to explain sales dollars to earn a target income?

Read Chapter 4 of your Cornerstones of monogerial Accounting 6th ed. and write a 700-word essay that covers the following to:

Explain the concept of break-even point. Why is it important? (provide example).
Explain the concept of contribution margin. Why is it important? (provide example).
What is the formula to explain sales dollars to earn a target income? (Provide example)
What are the methods that deal with uncertain arid risk?