Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can you please show work thank you! 18. Royale, Inc. needs a forecast (budget) Income Statement and Cost-Volume-Profit information for May 2021. All of Royale's

can you please show work thank you! image text in transcribed
18. Royale, Inc. needs a forecast (budget) Income Statement and Cost-Volume-Profit information for May 2021. All of Royale's costs are mixed costs. The company sells one product at a single price per unit Instructions: a) Make up your own May 2021 Budget data in the following format: Sales Revenue Budget: Sales Units Sales Price per Unit Total Sales Revenue S?? $?? X Mised Cost Datants and count must be different en cach line to rele credin: Units Preded Tocal Cent 9713 327971 b) Calculate your Variable Cost per unit and Total Fixed Cost using the High-low Method. c) Calculate your budget Net Income or Loss for May 2021 for the number of units on your Sales Revenue Budget. d) Calculate your total Contribution Margin (CM) and CM per unit. e) Calculate your Break-Even Sales units and Break-Even Sales Revenue (round to nearest unit and I of Sales Revenue). 1) Calculate the Margin of Safety percentage (ratio) at your budget Sales Revenue (round to nearest 00.0%)

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

Implementing Standardized Work Training And Auditing

Authors: Alain Patchong

1st Edition

146656363X, 978-1466563636

More Books

Students also viewed these Accounting questions