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20. Nimoy, Inc. needs a forecast (budget) income statement for July 2020. The company sells one product at a single price per unit. Instructions: a)
20. Nimoy, Inc. needs a forecast (budget) income statement for July 2020. The company sells one product at a single price per unit. Instructions: a) Prepare a forecast Income Statement using the following format. Make up your own numbers. Total Sales Revenue (???? units) $???? -Variable Costs $???? =Contribution Margin $???? -Fixed Costs $???? =Net Income $7222 b) Calculate your Contribution Margin (CM) Ratio (round to 0.00 or 00.0%). c) Calculate your break-even point in Sales Units (round to the nearest unit). d) Calculate the required Sales Units to achieve a Target Profit of $????. Make up your own Target Profit different than your Net Income in part a) (round to the nearest unit). e) Calculate the Margin of Safety percentage (ratio) at your forecast Sales Revenue (round to nearest 00.0%)
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