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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.) Net Income Case Units Sold Sales Variable Expenses Contribution Margin Fixed Expenses (Loss), 1 17,000 $ 170,000 S 45,000 110,400 40% 2 29,000 13 3 10,200 96,000 329,000 4 $6 per unit $21 per unit 91,800 $35 per unit 12,000 (12,000) 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) Fixed Expenses Net Income (Loss) 1 $ 490,000 25 $ 6,000 2 400,000 60 21,000 (6,000) 590,000 3 4 260,000 442,500 97,000 135,000
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