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Complete the multi product contribution margin income statement with the given information: Net income earned during most recent period: $ 65,000 Contribution margin ratio: 15%
Complete the multi product contribution margin income statement with the given information:
Net income earned during most recent period: | $ 65,000 | ||||
Contribution margin ratio: | 15% | ||||
Fixed costs incurred during most recent period: | $ 175,000 | ||||
Statutory tax rate: | 37% | ||||
Operating income generated at breakeven: | $ - | ||||
Applicable to the Football Division | |||||
Selling price per football | $ 18.00 | ||||
Total variable cost dollars incurred by Football Division | $ 952,088 | ||||
Quantity of footballs sold during most recent period: | 64,000 | ||||
Applicable to the Baseball Division | |||||
Variable cost per baseball: | $ 3.24 |
Footballs | Baseballs | Total | |||||||
Total $ | $ per Unit | Sales Ratios | Total $ | $ per Unit | Sales Ratios | Total $ | Sales Ratios* | ||
Revenues | 100% | ||||||||
Variable Costs | $ 952,088 | ||||||||
Contribution Margin | |||||||||
Fixed Costs | |||||||||
Operating income | |||||||||
Income Tax | |||||||||
Net income | |||||||||
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