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Island Novelties, Incorporated, of Palau makes two products - Hawallan Fantasy and Tahitian Joy. Each product's selling price, varlable expense per unit and annual sales

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Island Novelties, Incorporated, of Palau makes two products - Hawallan Fantasy and Tahitian Joy. Each product's selling price, varlable expense per unit and annual sales volume are as follows: Fixed expenses total $580,500 per year: Required: 1. Assuming the sales mix given above, do the following: a. Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole. b. Compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage 2. The company has developed a new product called Samoan Dellght that sells for $40 each and that has varlable expenses of $32 per unit if the company can sell 11,200 units or Samoan Delight without incurring any additional fixed expenses: a. Prepare a revised contribution format income statement that includes Samoan Delight. Assume that sales of the other two products does not change. b. Compute the company's revised break-even point in dollar sales. Also, compute its revised margin of safety in dollars and margin of safety percentage. Complete this question by entering your answers in the tabs below. Assuming the sales mix given above, do the following: Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole. Problem 6-27 (Algo) Sales Mix; Break-Even Analysis; Margin of Safety [LO6-7, LO6-9] Island Noveltes, Incorporated, of Palau makes two products - Hawallan Fantasy and Tahitan Joy Each product's selling price, variable expense per unit and annual sales volume are as follows: Fixed expenses total $580,500 per year. Required: 1. Assuming the sales mix given above, do the following: a. Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole. b. Compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage. 2. The company has developed a new product called Samoan Delight that sells for $40 each and that has varlable expenses of $32 per unit. If the company can sell 11,200 units of Samoan Delight without incuring any additional fixed expenses: a. Prepare a revised contribution format income statement that includes Samoan Delight. Assume that sales of the other two products does not change. b Compute the company's revised break-even point in dollar sales. Also, compute its revised margin of safety in dollars and margin of safety percentage Complete this question by entering your answers in the tabs below. Assuming the sales mix given above, do the following: Compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage. (Do not round your intermediate calculations. Round your "Margin of safety percentage" final answer to 1 decimal place (i.e 0.1234 should be entered as 12.3 ). Round your other final answers to the nearest whole dollar.) Island Noveltes, Incorporated, of Palau makes two products-Hawallan Fantasy and Tahitian Joy, Each product's selling price, variable expense per unt and annual sales volume are as follows: Flxed expenses total $580,500 per year. Requlred: 1. Assuming the sales mix given above, do the following: a. Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole. b. Compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage 2. The company has developed a new product called Samoan Delight that sells for $40 each and that has vanable expenses of $32 per unit. If the company can sell 11,200 units of Samoan Delight without incurring any additional fixed expenses. a. Prepare a revised contribution format income statement that includes Samoan Delight Assume that sales of the other two products does not change. b. Compute the company's revised break-even point in dollar sales, Also, compute its revised margin of safety in dollars and margin of safety percentage. Complete this question by entering your answers in the tabs below. The company has developed a new product called Samoan Delight that sells for $40 each and that has variable expenses of $32 per unit. If the company can sell 11,200 units of Samoan Delight without incurnng any additional fixed expenses: Prepare a revised contribution format income statement that includes Samoan Delight. Assume that sales of the other two products does not change. (Round your "Percentage" answers to 1 decmal place (i,e 0.1234 should be entered as 12.3).) Island Novelties, Incorporated, of Palau makes two products-Hawallan Fantasy and Tahituan Joy. Each product's selling price, variable expense per unit and annual sales volume are as follows: Fixed expenses total $580,500 per year Required: 1. Assuming the sales mbx given above, do the following a. Prepare a contnbution format income statement showing both dollar and percent columns for each product and for the company as a whole. b. Compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage. 2. The company has developed a new product called Samoan Delight that sells for $40 each and that has varlable expenses of $32 per unit. If the company can sell 11,200 units of Samoan Delight without incurring any additional fixed expenses: a. Prepare a revised contribution format income statement that includes Samoan Delight. Assume that sales of the other two products does not change. b. Compute the company's revised break-even point in dollar sales. Also, compute its revised margin of safety in dollars and margin of safety percentage. Complete this question by entering your answers in the tabs below. The company has developed a new product called Samoan Delight that sells for $40 each and that has variable expenses of $32 per unit, if the company can sell 11,200 units of Samoan Delight without incurring any additional fixed expenses: Compute the company's revised break-even point in dollar sales. Also, compute its revised margin of safety in dollars and margin of safety percentage. (Do not round your intermediate calculations. Round your "Margin of safety percentage" final answer to 1 decimal place (i.e 0.1234 should be entered as 12.3). Round your other final answers to the nearest whole dollar.)

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