Labels and Amount Descriptions Income Statement Additional Questions Shaded cells have feedback income Statement nstructions Wolsey Industries Inc, expects to maintain the same inventories at the end of 20Y3 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Fixed Estimated Variable Cost Lost (per unit sold) 2 Production costs: $66.00 Direct materials 52.00 Direct labor Previous Check My Work Subscriment for All work saved. to 9 Labels and Amount Descriptions Income Statement Additional Questions Income Statement Instructions Estimated Fixed Cost Estimated Variable Cost (per unit sold) 2 Production costs: Direct materials $66.00 Direct labor 32.00 Factory overhead $190,000.00 20.00 Selling expenses: Sales salaries and commissions 102.000.00 6.00 Advertising 37,000.00 9 Travel 10,000.00 ome Statement ructions Travel 10,000.00 10 Miscellaneous selling expense 7,800.00 1.00 11 Administrative expenses: 12 13 Office and officers' salaries Supplies 138,400.00 12,000.00 2.00 14 Miscellaneous administrative expense 14,000.00 1.00 15 Total $511,200.00 $128.00 expected that 21,300 units will be sold at a price of $160 a unit. Maximum sales within the relevant range are 25,9 ratne lever Labels and Amount Descriptions Income Statement Additional Questions Income Statement Estimated Income Statement For the Year Ended December 31, 2013 Sales 2 Cost of goods sold: Direct materials Direct labor Factory overhead Gross profit kaber 15 Income Statement Miscellaneous selling expense Total selling expenses Administrative expenses: Office and officers salaries Supplies Miscellaneous administrative expense Total administrative expenses Total expenses Income from operations Check My Work poons Income Statement Adcional Quest Final Questions Additional Questions Shaded 2. What is the expected contribution marqin ratio? Points Feedback v Check My Work Sales minus variable costs equals contribution margin. Contribution margin divided by sales equals contri margin ratio Check My Work Wuestion Additional Questions Final Questions Shaded cels nave feedback Shaded cols have feedba 5. What is the expected margin of safety in dollars and as a percentage of sales? If applicable, use amounts previously computed and then round your answers to the nearest whole number Dollars Percentage Points: 072 Feedback Check My Work Expected sales (units multiply by selling price) less break-even point (units multiply by selling price) equals to margin of safety in dollars. Previous