Bernie Corp manufactures drum sets. They have hired you as the new student inter. The following costs result from the production and sale of 4,350 drum sets manufactured for the year ended December 31, 2019. The drum sets sell for $285 each. The company has a 40% income tax rate $ 104,400 387,150 143,550 95,700 Variable production costs plastie for casing Wages of assembly workers Drum stands Variable selling costs Sales commissions Fixed manufacturing costs Taxes on factory Factory maintenance Factory machinery depreciation Fixed selling and administrative costs Lease of equipment for sales staff Accounting staff salaries Administrative management salaries 13,500 27,000 87,000 27,000 77,000 157,000 Required: 1. Prepare a contribution margin income statement for the year 2. Compute its contribution margin per unit and its contribution margin ratio 3. For each dollar of sales, how much is left to cover fixed costs and contribute to operating income? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare a contribution margin income statement for the year. BERNIE CORP Contribution Margin Income Statement For Year Ended December 31, 2019 Sales Variable costs Total variable costs Contribution margin Fixed costs Required: 1. Prepare a contribution margin income statement for the year. 2. Compute its contribution margin per unit and its contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to operating income? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution margin income statement for the year. BERNIE CORP Contribution Margin Income Statement For Year Ended December 31, 2019 Sales Variable costs Total variable costs Contribution margin Foxed costs Total fixed costs Required Required 2 > Required: 1. Prepare a contribution margin income statement for the year. 2. Compute its contribution margin per unit and its contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to operating income? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute its contribution margin per unit and its contribution margin ratio. (Round Contribution margin ra percentage.) BERNIE Corp Contribution Margin Income Statement (partial) For Year Ended December 31, 2019 Per Unit Sales Variable costs Total variable costs Contribution margin $ 104,400 387,150 143,550 95,700 Variable production costs Plastic for casing Wages of assembly workers Drum stands Variable selling costs Sales commissions Fixed manufacturing costs Taxes on factory Factory maintenance Factory machinery depreciation Fixed selling and administrative costs Lease of equipment for sales staff Accounting staff salaries Administrative management salaries 13,500 27,000 87,000 27,000 77,000 157,000 Required: 1. Prepare a contribution margin income statement for the year. 2. Compute its contribution margin per unit and its contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to operating income? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 For each dollar of sales, how much is left to cover fixed costs and contribute to operating income? (Round your answert decimal places) For each dollar of sales, how much is left to cover fixed costs and contribute to operating income?
