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Fill in the missing amounts in each of the following eight case situations. Treat each case independently. (Hint: One way to find the missing amounts
Fill in the missing amounts in each of the following eight case situations. Treat each case independently. (Hint: One way to find the missing amounts would be to prepare a contribution margin income statement for each case, enter the known data, and then compute the missing items.) a. Assume that only one product is being sold in each of the following four case situations: (Negative amounts should be indicated by a minus sign. Enter your contribution margin answers as per unit dollar values. Enter your answers rounded to the nearest whole number.) Case Units Sold Sales Variable Expenses Contribution Margin Fixed Expenses Net Income (Loss) 1 13,000 $ $ 169,000 148,500 50,000 24,500 2 40% $7 per unit $30 per unit 58,200 $36 per unit 3 9,700 16 10,000 (12,000) 4 312,000 108,000 b. Assume that more than one product is being sold in each of the following four case situations: (Negative amounts should be indicated by a minus sign.) Case Sales Variable Expenses Average Contribution Margin (percentage) 15 Fixed Expenses Net Income (Loss) 1 $ 520,000 $ 8,000 2 380,000 247,000 90,000 92,000 3 50 18,000 4 610,000 457,500 (5,000)
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