Contribution margin, break-even sales, cost volume profit chart, margin of safety, and operating leverage Labels and Amount Descriptions Income Statement Additional Questions V Instructions Wolsey Industries Inc, expects to maintain the same inventories at the end of 2048 as at the beginning of the year. The total of all production costs is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the c departments during the year. A summary report of these estimates is as follows: Estimated Fixed Estimated Variable Cost (per unit sold) Cost Production costs Direct materials $56.00 Direct labor 36.00 Factory overhead $144,000.00 20.00 Selling expenses Sales salaries and cons 16.000 3:00 Check My Work 4 more Check My Work udes remaining Contribution margin, break-even sales, cost-volume profit chart, margin of safety, and operating leverage labels and Amount Descriptions Income Statement Additional Questions Instructions Direct labor 36.00 s Factory overhead $194,000.00 20.00 6 Selling expenses: 2 Sales salaries and commissions 110,000.00 8.00 1 Advertising 42,000.00 9 Travel 13,000.00 10 Miscellaneous selling expense 7,000.00 1.00 Administrative expenses Office and officers salaries 13 Supplies 124,600.00 8,000.00 6.00 18 Miscellaneous administrative expense 15,000.00 1.00 1 Total 5573,600.00 $128.00 Check My Work more Check My Work uses remaining in, break even sales CO profit chart, margin of safety, and operatin Income Statement Additional Question Instructions Labels and Amount Descriptions X 36.00 L000.00 20.00 Labels and Amount Descriptions 000.00 8.00 Advertising Contribution margin Cost of goods sold L000.00 December 31, 2018 1000.00 Direct labor 1000.00 1.00 1600.00 Miscellaneous administrative expense L000.00 6.00 000.00 1.00 1600.00 $128.00 Miscellaneous selling expense Office and officers' salaries Sales Sales salaries and commissions Supplies Tale Check My Work more Check My Work uses remaining 0 36.00 Instructions Labels and Amount Descriptions Gross profit Income from operations 1000.00 20.00 Manufacturing margin L000.00 8.00 Miscellaneous administrative expense 1000.00 Miscellaneous selling expense Office and officers' salaries 1000.00 Sales 1000.00 1.00 Sales salaries and commissions 1600.00 Supplies Total administrative expenses 1000.00 6.00 1000.00 100 Total expenses Total selling expenses 600.00 $128.00 Travel Variable cost of goods sold Check My Work 4 more Check My Works remaining eBook Contribution margin, break-even sales, cost volume profit chart, margin of safety, and operating leverage Labels and Amount Descriptions Income Statement Additional Questions Income Statement A Prepare an estimated income statement for 20Y8. Refer to the Labels and Amount Description is provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading Wolsey Industries Inc Estimated Income Statement (Label) 1 Previous Check My Work 4 more Check My Work udes remaining 0 EM do Contribution margin, break-even sales, cost-volume-profit chart, margin of safety, and operating leverage Nesbols and Amount Descriptions Income Statement Additional Questions Income Statement 7 3 Label Selling expenses: 10 13 14 15 Administrative expenses: 16 16 19 Check My Work 4 more Check My Work uses remaining Prev 0 E 11 12 13 14 15 Administrative expenses: 16 17 18 19 20 Total expenses Check My Work 4 more Check My Work uses remaining, i Contribution margin, break-even sales, cost volume profit chart, margin of safety, and operating leverage Labels and Amount Descriptions Income Statement Additional Questions V Income Statement Additional Questions B. What is the expected contnbution margin ratio? C. Determine the break-even sales in units and dollars. Start by using the contribution margin ratio (part B) and then round your answers to the nearest whole number Units units Dollars S D Construct a cost-volume-profit chart on your own paper What is the break-even sales? I Check My Work 4 more Check My Work udes remaining TE Previous CT 3/19 3 40 Contribution margin, break-even sales, cost volume profit chart, margin of safety, and operating leverage Labels and Amount Descriptions Income Statement Additional Questions Income Statement Additional Questions Final Questions E. What is the expected margin of safety in dollars and as a percentage of sales? If applicable, use amounts previously computed and then round your answers to the nearest whole number Dollars Percentage %% F Determine the operating leverage. Round to one decimal place Previous Check My Work 4more CheckMy Workufes remaining 31 Contribution margin, break-even sales, cost volume profit chart, margin of safety, and operating leverage Labels and Amount Descriptions Income Statement Additional Questions V Instructions Wolsey Industries Inc, expects to maintain the same inventories at the end of 2048 as at the beginning of the year. The total of all production costs is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the c departments during the year. A summary report of these estimates is as follows: Estimated Fixed Estimated Variable Cost (per unit sold) Cost Production costs Direct materials $56.00 Direct labor 36.00 Factory overhead $144,000.00 20.00 Selling expenses Sales salaries and cons 16.000 3:00 Check My Work 4 more Check My Work udes remaining Contribution margin, break-even sales, cost-volume profit chart, margin of safety, and operating leverage labels and Amount Descriptions Income Statement Additional Questions Instructions Direct labor 36.00 s Factory overhead $194,000.00 20.00 6 Selling expenses: 2 Sales salaries and commissions 110,000.00 8.00 1 Advertising 42,000.00 9 Travel 13,000.00 10 Miscellaneous selling expense 7,000.00 1.00 Administrative expenses Office and officers salaries 13 Supplies 124,600.00 8,000.00 6.00 18 Miscellaneous administrative expense 15,000.00 1.00 1 Total 5573,600.00 $128.00 Check My Work more Check My Work uses remaining in, break even sales CO profit chart, margin of safety, and operatin Income Statement Additional Question Instructions Labels and Amount Descriptions X 36.00 L000.00 20.00 Labels and Amount Descriptions 000.00 8.00 Advertising Contribution margin Cost of goods sold L000.00 December 31, 2018 1000.00 Direct labor 1000.00 1.00 1600.00 Miscellaneous administrative expense L000.00 6.00 000.00 1.00 1600.00 $128.00 Miscellaneous selling expense Office and officers' salaries Sales Sales salaries and commissions Supplies Tale Check My Work more Check My Work uses remaining 0 36.00 Instructions Labels and Amount Descriptions Gross profit Income from operations 1000.00 20.00 Manufacturing margin L000.00 8.00 Miscellaneous administrative expense 1000.00 Miscellaneous selling expense Office and officers' salaries 1000.00 Sales 1000.00 1.00 Sales salaries and commissions 1600.00 Supplies Total administrative expenses 1000.00 6.00 1000.00 100 Total expenses Total selling expenses 600.00 $128.00 Travel Variable cost of goods sold Check My Work 4 more Check My Works remaining eBook Contribution margin, break-even sales, cost volume profit chart, margin of safety, and operating leverage Labels and Amount Descriptions Income Statement Additional Questions Income Statement A Prepare an estimated income statement for 20Y8. Refer to the Labels and Amount Description is provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading Wolsey Industries Inc Estimated Income Statement (Label) 1 Previous Check My Work 4 more Check My Work udes remaining 0 EM do Contribution margin, break-even sales, cost-volume-profit chart, margin of safety, and operating leverage Nesbols and Amount Descriptions Income Statement Additional Questions Income Statement 7 3 Label Selling expenses: 10 13 14 15 Administrative expenses: 16 16 19 Check My Work 4 more Check My Work uses remaining Prev 0 E 11 12 13 14 15 Administrative expenses: 16 17 18 19 20 Total expenses Check My Work 4 more Check My Work uses remaining, i Contribution margin, break-even sales, cost volume profit chart, margin of safety, and operating leverage Labels and Amount Descriptions Income Statement Additional Questions V Income Statement Additional Questions B. What is the expected contnbution margin ratio? C. Determine the break-even sales in units and dollars. Start by using the contribution margin ratio (part B) and then round your answers to the nearest whole number Units units Dollars S D Construct a cost-volume-profit chart on your own paper What is the break-even sales? I Check My Work 4 more Check My Work udes remaining TE Previous CT 3/19 3 40 Contribution margin, break-even sales, cost volume profit chart, margin of safety, and operating leverage Labels and Amount Descriptions Income Statement Additional Questions Income Statement Additional Questions Final Questions E. What is the expected margin of safety in dollars and as a percentage of sales? If applicable, use amounts previously computed and then round your answers to the nearest whole number Dollars Percentage %% F Determine the operating leverage. Round to one decimal place Previous Check My Work 4more CheckMy Workufes remaining 31