Answered step by step
Verified Expert Solution
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
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
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started