Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Airborne Travel uses the contribution margin income statement internally. Airbome's first quarter results are as follows: (Click the icon to view the income statement) Airborne's

image text in transcribed

Airborne Travel uses the contribution margin income statement internally. Airbome's first quarter results are as follows: (Click the icon to view the income statement) Airborne's relevant range is sales of between $140,000 and $670,000 Read the regirements Requirement 1. Prepare contribution margin income statements at sales levels of $190,000 and 5420,000. (Hint: Use the contribution margin ratio) Begin by preparing the contribution margini Income statement at the 5190 000 level (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses) Alrbome Travel Contribution Margin Income Statement Three Months Ended March 31 190000 Sales revenue Lass: Variable expenses Contribution margin Data Table Less: Fixed expenses Operating income less Now prepare the contribution margin income statement at the $420.000 level (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses) Airborne Travel Contribution Margin Income Statement Three Months Ended March 31 Sale Sales revenge Airbome Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue $ 520.000 Less Variable expenses 208.000 Contribution margin 5 5 312.000 Less Fixed expenses 171,000 5 141,000 Operating income Less Variable expert Contrbution margin Less Fixed expenses Print Dane Operating income dos) Requirement 2. Compute breakeven sales in dollar Begin by identifying the formula to compute the breakeven sales in dollars + 17 Breakevens in dollars Compute breakeven sales in dollars The breakeven sales in dollars is $ Choose from any list or enter any number in the input fields and then continue to the next

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Finance For Non-Specialists

Authors: Eddie McLaney, Peter Atrill

3rd Edition

9780273646327

More Books

Students also viewed these Accounting questions

Question

Verify the formula given for the Pi of the M/M/k.

Answered: 1 week ago