Question
I AM OFFERING ALOT OF POINTS SO PLEASE ANSWER THEM CORRECTLY WITH EXPLANATIONS Shown here is an income statement in the traditional format for a
I AM OFFERING ALOT OF POINTS SO PLEASE ANSWER THEM CORRECTLY WITH EXPLANATIONS
Shown here is an income statement in the traditional format for a firm with a sales volume of 16,500 units: |
Revenues | $ | 181,500 | |
Cost of goods sold ($10,500 + $2.85/unit) | 57,525 | ||
Gross profit | $ | 123,975 | |
Operating expenses: | |||
Selling ($2,250 + $1.00/unit) | 18,750 | ||
Administration ($4,600 + $.35/unit) | 10,375 | ||
Operating income | $ | 94,850 | |
Prepare an income statement in the contribution margin format. (Omit the "$" sign in your response.) |
(IN CASE THE DROP DOWN BOXES DONT DISPLAY THE INFO. OR PROPERLY..the first box is revenues and is correct
I got all of the drop down boxes correct..they are as follows: box2 cost of good sold box 3 selling expenses box 4 administrative expenses box 5 under dixed expenses cost of good sold box 6 administrative expenses box7 selling expenses box8 under total fixed is operating income. SO NOW JUST NEED THE NUMBERS/amounts (for requirement 3 and 4 the drop down for all are operating income)
1. revenues $__________
VARIABLE EXPENSES:
2. Cost of goods sold $_____________
3. selling expenses $_____________
4. administrative expenses $_________
TOTAL VARIABLE EXPENSES: __________
CONTRIBUTION MARGIN:__________
FIXED EXPENSES:
5.cost of good sold $_______
6. administative expenses $__________
7. selling expenses
TOTAL FIXED EXPENSES:_______
OPERATING INCOME$____________
Calculate the contribution margin per unit and the contribution margin ratio. (Round your answers to 2 decimal places. Omit the "$" and "%" signs in your response.) |
Contribution margin per unit | $ |
Contribution margin ratio | % |
Requirement 3: | |
(a) | Calculate the firm's operating income (or loss) if the volume changed from 16,500 units to 21,500 units.(Do not round your intermediate calculations. Input the amount as positive value. Omit the "$" sign in your response.) |
OPERATING INCOME $__________
(b) | Calculate the firm's operating income (or loss) if the volume changed from 16,500 units to 8,500 units.(Do not round your intermediate calculations. Input the amount as positive value. Omit the "$" sign in your response.) |
OPERATING INCOME$__________
Requirement 4: | |
Refer to your answer to requirement 1 when total revenues were $181,500. | |
(a) | Calculate the firm's operating income (or loss) if unit selling price and variable expenses do not change, and total revenues increase by $14,500. (Do not round your intermediate calculations. Input the amount as positive value. Round your answer to the nearest dollar amount. Omit the "$" sign in your response.) |
OPERATING INCOME$___________
(b) | Calculate the firm's operating income (or loss) if unit selling price and variable expenses do not change, and total revenues decrease by $7,500. (Do not round your intermediate calculations. Input the amount as positive value. Round your answer to the nearest dollar amount. Omit the "$" sign in your response.) |
OPERATING INCOME$__________
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