Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hello!! please help with required 1-3:) thank you! Product Flight Dynamic Sure Shot $ 710,000 $ 290,000 67% 72% Sales CM ratio Total $ 1,000,000

hello!! please help with required 1-3:) thank you!
image text in transcribed
Product Flight Dynamic Sure Shot $ 710,000 $ 290,000 67% 72% Sales CM ratio Total $ 1,000,000 ? Fixed expenses total $558,500 per month. Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $43,000 a month, by how much would you expect the monthly net operating income to increase? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution format income statement for the company as a whole. (Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Flight Dynamic Sure Shot Total Company Amount Amount % Amount Sales $ 710,000 100.00 $ 290,000 100.00 1,000,000 100.00 Variable expenses 269,800 38,00 81,200 28.00 351,000 35.00 Contribution margin $ 440,200 62.00 $ 208,800 72.00 649,000 65.00 Fixed expenses 564,500 $ 84,500 Net operating income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internal Auditing In Plain English A Simple Guide To Super Effective ISO Audits

Authors: Craig Cochran

1st Edition

1932828168, 978-1932828160

More Books

Students also viewed these Accounting questions