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Hello! I'm having some trouble with this practice problem. I was able to complete some of it, but not all of it. Lucido Products markets
Hello! I'm having some trouble with this practice problem. I was able to complete some of it, but not all of it.
Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below: Sales Variable expenses Contribution margin Fixed expenses Net operating income Claimjumper $ 106,000 26,440 $ 79,560 Makeover $ 53,000 5,360 $ 47,640 Total $ 159,000 31,800 127,200 88,320 $ 38,880 Required: 1. What is the overall contribution margin (CM) ratio for the company? 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the company's overall break-even point in dollar sales? (Do not round intermediate calculations.) Overall break-even point Required 1 Required 2 Required 3 Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Total $ $ 0 Lucido Products Contribution Income Statement Claimjumper Makeover Sales Variable expenses Contribution margin 0 $ Fixed expenses Net operating income (loss) 0 $ 0 0
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