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Miller Company's most recent income statement follows: Total Per Unit Sales (22,000 units) $616,000 $20 Less: Variable expenses 374,000 17 Contribution margin 242,000 $11 Less:
Miller Company's most recent income statement follows: Total Per Unit Sales (22,000 units) $616,000 $20 Less: Variable expenses 374,000 17 Contribution margin 242,000 $11 Less: Fixed expenses 56.000 Net income $186,000 Consider each of the following cases independently. Required: 1. Prepare a new income statement if the sales volume increases by 30%, and the selling price decreases by $1.00. (Do not round intermediate calculations. Round "Per Unit" answers to 2 decimal places.) Per Unit $ Total 28.600 Sales Less: Variable expenses Contribution margin Less: Fixed expenses Net income 2. Prepare a new income statement if the selling price decreases by $2.5 per unit, and the sales volume increases by 25% (Do not round Intermediate calculations. Round "Per Unit" answers to 2 decimal places.) Total Per Unit Contmagn LOS Fixed BROS Net ne 3. Prepare a new income statement of the selling price increases by $1.5 per unit, fixed expenses increase by $5,000 and the sales volume decreases by 5% (Do not round Intermediate calculations. Round "Per Unit" answers to 2 decimal places.) Total Per Unit Less: Variable expenses Contribution margin Loss: Fixed expenses Net income 4. Prepare a now income statement of the selling price increases by 5%. variable expenses increase by SO 15 per unit and the sales volume decreases by 10%. (Do not round intermediate calculations. Round "Por Unit" answers to 2 decimal places.) Total Per Unit LO Variable BORDE Contribution margin Net Income
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