Question
Income Statement Revenue: Collars $ 13,440 Leashes 11,960 Harnesses 13,200 $ 38,600 Total Revenue: $ 38,600 Cost of goods sold 28,258 Gross profit $ 10,342
| Income Statement | ||
| Revenue: | ||
| Collars | $ 13,440 | |
| Leashes | 11,960 | |
| Harnesses | 13,200 | |
| $ 38,600 | ||
| Total Revenue: | $ 38,600 | |
| Cost of goods sold | 28,258 | |
| Gross profit | $ 10,342 | |
| Expenses: | ||
| General and administrative salaries | $ 2,450 | |
| Depreciation | 165 | |
| Rent | 750 | |
| Utilities and insurance | 200 | |
| Scissors, thread, and cording | $ 1,200.00 | |
| Loan | 183 | |
| 4,948 | ||
| Total Expenses | $ 4,948.00 | |
| Net Income/Loss | $ 5,394.00 |
Based on your income statement logically, interpret the businesss performance against the provided benchmarks. Did the company do as well as expected? Explain what happened
Break even analysis: collars leashes harnesses
sale price $24 $26 $30
Fixed cost 855 4028 4201
Contribution margin 14.90 13.90 11.40
Break-Even Units 270.34 289.78 368.51
Target profit 300 400 500
Break even units 476 366 253
Target profit 500 600 650
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Precalculus
Authors: Michael Sullivan
9th edition
321716835, 321716833, 978-0321716835
