Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

just need help with part 3 Olongapo Sports Corporation distributes two premium golf balls-the Flight Dynamic and the Sure Shot. Monthly sales and the contribution

image text in transcribedimage text in transcribedjust need help with part 3

Olongapo Sports Corporation distributes two premium golf balls-the Flight Dynamic and the Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Flight Dynamic Sure Shot Total $690,000 $310,000 $1,000,000 Sales CM ratio 69% 73% Fixed expenses total $598,000 per month Required 1. Prepare a contribution format income statement for the company as a whole. Round your percentage answers to 2 decimal places (i.e. .1234 is considered as 12.34) Olongapo Sports Corporation Flight Dynamic Sure Shot Total Company Amount Amount Amount 100.001% 27.00 | % 73.00 % 1,000,000 297,600 702,400 598,000 $ 104,400 100.001% 29.761 % 70.24 % Sales $690,000 100.00 1%?$ 310,000 83,700 69.00 %| $ 226,300 iable expenses 213,900 31.001 % Contribution margin $476,100 xed expenses et 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

Curriculum Alignment A Facilitators Developing Aligning And Auditing

Authors: Betty E. Steffy-English, Fenwick W. English

1st Edition

0803968485, 978-0803968486

More Books

Students also viewed these Accounting questions

Question

Draw the nine chiral molecules that have the formula C6H13Br.

Answered: 1 week ago

Question

f. Did they change their names? For what reasons?

Answered: 1 week ago