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Bernie Corp manufactures drum sets. They have hired you as the new student inter. The following costs result from the production and sale of 4,550
Bernie Corp manufactures drum sets. They have hired you as the new student inter. The following costs result from the production and sale of 4,550 drum sets manufactured for the year ended December 31, 2019. The drum sets sell for $315 each. The company has a 30% Income tax rate. $139.500 441,250 181,350 130,200 Variable production costa plantie for casing Wages of assembly workers Dr standa Variable selling costs Salas comissions Pixed manufacturing costs Taxes on factory Factory maintenance Factory machinery depreciation Fixed selling and administrative conta Lease of equipment for sales start Accounting staff salaries Administrative management salaries 8,500 17.000 77.000 17.000 67,000 147,000 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 Prepare a contribution margin income statement for the year. BERNIE CORP Contribution Margin Income Statement For Year Ended December 31, 2010 Sales Variable costs 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 Total fixed costs Required 2) Required 1 Required Required 3 Compute its contribution margin per unit and its contribution margin ratio. (Round Contribution margin ratio to nearest whole percentage) BERNIE Corp Contribution Margin income Statement (partial) For Year Ended December 31, 2019 Per Unit Sales Variable costs Total variable costs Contribution margin 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 answer to 2 decimal places.) For each dollar of sales, how much is left to cover fixed costs and contribute to operating income? Required 2 Required
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