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Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. ( Hint: One way to
Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then compute the missing items.)
Required:
a. Assume that only one product is being sold in each of the four following case situations:
b. Assume that more than one product is being sold in each of the four following case situations:
Case #1 Case #2 Case #3 Case #4 Unit sold 9,400 20,600 4,800 Sales $ 310,200 $ 335,800 $ 134,400 288,400 159,800 87,000 171,000 Variable expenses Fixed expenses Net operating income (loss) Contribution margin per unit 91,000 (43,000) $ (54,200 $ 94,400 $ $ 8 $ 9 Case #1 Case #2 Case #3 Case #4 Sales $ 452,000 $ $ 197,000 128,050 306,000 85,680 Variable expenses 57,000 Fixed expenses Net operating income (loss) Contribution margin ratio (percent) 474,000 95,080 $ 58,280 $ $ (10,680) 39 % % 82 % %Step by Step Solution
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