As shown by these data, operating income is budgeted at $39,585 for the month, break-even sales dollars at $467,625.00, and break-even unit sales at 1,960.80.

Assume that actual sales for the month total $539,000 (2,380 units), with the Contribution Margin ratio and per unit amounts the same as budgeted.

Actusl fixed expenses are the same budgeted, $243,165. Actual sales by product are as follows: sinks, $140,000 (595 units); mirrors, $217,000 (1,190 units); and vanities, $182,000 (595 units).

Prepare a contribution format income statement for the month based on actual sales data.

i need step by step explanation plus answer thanks.

Smithen Company, a wholesale distributor has been operating for only a few months. The company sells three product-sinks, mirrors, and vanities Budgeted soles by product and in total for the coming month are shown below based on planned unit sales as follows: Sinks Mirrors Vanities Total Units 1,148 578 578 2,288 Porcentage 98% 25% 25% 180% 18 Porcentage of total sales Sales Variable expenses Contribution margin Contribution margin per mit Fixed expenses Operating income Product Sink Mirrors Vanille Total 48% 2017 BIZ $261,688 160.00% $168.75 188.66 $174,800 14.5543,758 188.6 38.60 87.60 88.BEE 195.760 55.be 251, Bee 48.BG $182,789 70. B. $21.750 20.86% $ 78,380 45.ee 292.750 52.ee $164.26 38.16 $ 137237 243 165 $39,585 Break-even point in sales dollars Fixed Exporze Overall CM ratio 5243,165 9.52 3457.625.ee Break-even point in unit sales: Total Fixed expenses Weighted average cm per unit $243, 155 $124.01 1,966.88 units ($168.26 @use) ($38.168.25)($137.37 0.25) As shown by these gate operating income is budgeted at $39,585 for the month, bresk-even sales do laro at $467.625.00, and break- even unit sales at 1,960.80 Assume that actual sales for the month total $539,000 2,380 units). With the CM ratio and per unit amounts the same as budgeted. Actual fixed expenses are the same sa budgeted, $243.165. Actual sales by product are as follows: sinks, $140.000 (595 units: mirrors, $217.000 (1190 unts and anties $192000 (595 units). Requlred: 1. Prepare a contribution format Income statement for the month bored on actual cale: doto. (Round your answers to 2 decimal places BMITHEN COMPANY Contribution Margin Inooma Statement Preduot Mirrors Binka Vanilla Total Palotales 120 0.00 Da 000 3 poa Dica DO ES Bertini 5 PI