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Required information Exercise 7-16 Working with a Segmented Income Statement; Break-Even Analysis (LO7-4, LO7-5] (The following information applies to the questions displayed below.) Raner, Harris & Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm has two offices-one in Chicago and one in Minneapolis. The firm classifies the direct costs of consulting jobs as variable costs. A contribution format segmented income statement for the company's most recent year is given: 3es Office Chicago Minneapolis $ 127,500 100% $ 510, ee 100% 38.250 306,000 60% 89,250 70% 204, 40% 66,300 76,500 15% 22,950 18% $ 127,500 25% Total Company $ 637,500 100.0% 344,25eh 54.ex 293,250 46.0% 142,800 22.4% 150,45 23.6% 102.000 16.0% 48,450 7.6% Sales Variable expenses Contribution margin Traceable fixed expenses office segment margin Common fixed expenses not traceable to offices Net operating income 52% ercise 7-16 Part 1 Exercise 7-16 Part 1 Required: 1-a. Compute the companywide break-even point in dollar sales. 1-b. Compute the break-even point for the Chicago office and for the Minneapolis office. 1-c. Is the companywide break-even point greater than less than or equal to the sum of the Chicago and Minneapolis break-even points? Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req1C Compute the companywide break-even point in dollar sales. (Round "CM ratio to 2 decimal places and final answer to the nearest whole dollar amount.) Break-even point in dollar sales Req 18 > Exercise 7-16 Part 1 Required: 1-a. Compute the companywide break-even point in dollar sales. 1-b. Compute the break-even point for the Chicago office and for the Minneapolis office 1-c. Is the companywide break-even point greater than, less than or equal to the sum of the Chicago and Minneapolis points? Complete this question by entering your answers in the tab Req 1A Reg 1B Req 10 Compute the break-even point for the Chicago office and for the Minneapolis office. (Round "CM ratio" to 2 decimal places final answers to the nearest whole dollar amount.) Break-Even Point Chicago office Minneapolis office 23 of 6 Next > Exercise 7-16 Part 1 Required: 1-a. Compute the companywide break-even point in dollar sales 1-5. Compute the break-even point for the Chicago office and for the Minneapolis office 1-c. Is the companywide break-even point greater than, less than or equal to the sum of the Chicago and Minneapolis break-even points? Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Reg 1c" Is the companywide break-even point greater than, less than or equal to the sum of the Chicago and Minneapolis break-even points? Greater than Less than Equal to Raner, Harris & Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm has two offices-one in Chicago and one in Minneapolis. The firm classifies the direct costs of consulting jobs as variable costs. A contribution format segmented income statement for the company's most recent year is given: Total Company $ 637,500 100.0% 344, 250 54.0% 293,250 46.0% 142,800 22.43 150,450 23.6% 102,000 16.03 48,450 7.6% Sales Variable expenses Contribution margin Traceable fixed expenses office segment margin Common fixed expenses not traceable to offices Net operating Income Office Chicago Minneapolis $ 127,500 100% $ 510,000 100% 38.250 30% 306.000 89.250 205 284,000 403 66,300 76,500 159 $ 22,950 18% $ 127,500 253 52% Exercise 7-16 Part 2 2. By how much would the company's net operating income increase if Minneapolis increased its sales by $63.750 per year! Assum no change in cost behavior patterns. o g income increase Required information 3. Assume that sales in Chicago increase by $42,500 next year and that sales in Minneapolis remain unchanged. Assume no cha in fixed costs. a. Prepare a new segmented income statement for the company. (Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3).) Total Company Amount Chicago Amount Segments Minneapolis Amount % Next >