Erin Shelton, Inc., wants to earn a target profit of $840,000 this year. The company's fixed costs are expected to be $1,400,000 and its variable costs are expected to be 44 percent of sales. Erin Shelton, Inc., eamed $900,000 in profit last year. Required: 1. Calculate break even sales for Erin Shelton, Inc. 2. Prepare a contribution margin income statement on the basis break-even sales. 3. Calculate the required sales to meet the target profit of $840,000 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $840,000. 5. When the company earns $840.000 of net income, what is its margin of safety and margin of safety as a percentage of sales? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required Calculate break even sales for Erin Shelton, Inc. Dronk Even Sales Rog Required 2 > Required: 1. Calculate break-even sales for Erin Shelton, Inc. 2. Prepare a contribution margin income statement on the basis break even sales 3. Calculate the required sales to meet the target profit of $840,000 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $840,000 5. When the company earns $840,000 of net income, what is its margin of safety and margin of safety as a percentage of sales? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required Prepare a contribution margin income on the basis of break even sales Contribution Margin Income Statement Contribution Margin Profit Erin Shelton, Inc., wants to earn a target profit of $840,000 this year. The company's fixed costs are expected to be $1,400,000 and its variable costs are expected to be 44 percent of sales. Erin Shelton, Inc., earned $900,000 in profit last year. Required: 1. Calculate break even sales for Erin Shelton, Inc. 2. Prepare a contribution margin income statement on the basis break even sales, 3. Calculate the required sales to meet the target profit of $840,000. 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $840,000, 5. When the company earns $840,000 of net income, what is its margin of safety and margin of safety as a percentage of sales? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required Required 5 Required 4 Calculate the required sales to meet the target profit of $840,000. Tapet Sales Required: 1. Calculate break-even sales for Erin Shelton, Inc. 2. Prepare a contribution margin income statement on the basis break-even sales. 3. Calculate the required sales to meet the target profit of $840,000. 4. Prepare a contribution margin Income statement based on sales required to earn a target profit of $840,000 5. When the company earns $840,000 of net income, what is its margin of safety and margin of safety as a percentage of sale Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Reayiced 5 Required Prepare a contribution margin income statement based on sales required to earn a target profit of $840,000 Contribution Margin Income Statement Contribution Margin Profit APPdes. Em senton Inc. earned sobo in profit last year Required: 1. Calculate break-even sales for Erin Shelton, Inc. 2. Prepare a contribution margin income statement on the basis break even sales, 3. Calculate the required sales to meet the target profit of $840,000. 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $840.000, 5. When the company earns $840,000 of net income, what is its margin of safety and margin of safety as a percentage of sales? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 When the company earns $840,000 of net income, what is its margin of safety and margin of safety as a percentage of sales? (Round your "Percentage Sales answer to 2 decimal places (ie 1234 should be entered as 12.34% >> Margin of Safety Margin of Safety as a Percentage of Sales 95
