Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Loonzain. Budgeted sales by product and in total for the coming month are shown below. Percentage of total sales Sales Variable expenses Contribution margin Fixed

image text in transcribed
Loonzain. Budgeted sales by product and in total for the coming month are shown below. Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 48 % $ 312,000 93,600 $ 218,400 Product Fragrant Loonzain Total 28 % 32% 100 % 100 % $ 130,000 100 % $ 208, ege 100 % $ 65e,ese 38% 184, cee 89% 114,400 55 % 312.ee 70% $ 26, eee 20% $ 93,600 45 % 338,000 239,880 $ 107, 120 100 % 48 % 52% Dollar sales to break-even Fixed expenses CM ratio $230,00 8.52 = $444,000 mes As shown by these data, net operating income is budgeted at $107,120 for the month and the estimated break-even sales is $444,000. Assume that actual sales for the month total $650,000 as planned, however, actual sales by product are: White, $208.000: Fragrant $260.000: and Loonzain. $182.000. Required: 1. Prepare a contribution format income statement for the month based on the actual sales data 2 Compute the break-even point in dollar sales for the month based on your actual data Complete this question by entering your answers in the tabs below. Required Required: 2 Prepare a contribution format income statement for the month based on the actual sales data: Gold Star Rice, Ltd Contribution Income Statement Product Fragrant White Loontain Total Parcentage of Prey NON >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Financial Reporting And Analysis

Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer

8th Edition

1260247848, 978-1260247848

Students also viewed these Accounting questions

Question

discuss the models practical implications for job (re)design.

Answered: 1 week ago