Answered step by step
Verified Expert Solution
Question
1 Approved Answer
*Exercise 20-4 (Part Level Submission) Comfi Airways, Inc., a small two-plane passenger airline, has asked for your assistance in some basic analysis of its operations.
*Exercise 20-4 (Part Level Submission) Comfi Airways, Inc., a small two-plane passenger airline, has asked for your assistance in some basic analysis of its operations. Both planes seat 10 passengers each, and they fly commuters from Comfi's base airport to the major city in the state, Metropolis. Each month, 40 round-trip flights are made. Shown below is a recent month's activity in the form of a cost-volume-profit income statement. $64,000 Fare revenues (400 passenger flights) Variable costs Fuel Snacks and drinks Landing fees Supplies and forms $15,240 760 2,000 1,200 19,200 44,800 Contribution margin Fixed costs Depreciation Salaries Advertising Airport hanger fees 3,000 16,840 300 1,700 21,840 $22,960 Net income (a1) Your answer is correct. Calculate the break-even point in dollars. Break-even point g31200 Attempts: 1 of 3 used "(a2) Your answer is correct. Calculate the break-even point in number of passenger flights. Break-even pont Tgs flights Attempts: 1 of 3 used
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started