Mirabella Beauty manufactures and sells a face cream to small specialty stores in the greater Los Angeles area. It presents the monthly operating income statement shown here to George Lupe, a potential investor in the business. Help Mr. Lupe understand Mirabella Beauty's cost structure. Click the icon to view the operating income statement.) Read the requirements. Requirement 1. Recast the income statement to emphasize contribution margin. Mirabella Cosmetics Operating Income Statement, June 2020 Units sold Revenues II Requirement 2. Calculate the contribution margin percentage and breakeven point in units and revenues for June 2020. Begin by selecting the formula to calculate the contribution margin percentage. Then enter the amounts in the formula to calculate the percent. (Enter the percentage as a whole number.) Contribution margin Revenues Contribution margin percentage % Determine the formula for the breakeven point in units. Next, enter the amounts to calculate the breakeven point. (Enter the contribution margin per unit to two decimal places, X.XX.) Fixed costs Contribution margin per unit = Breakeven point in units units Determine the formula to calculate the breakeven point in revenues. Then, enter the amounts in the formula. (Enter the percentage as a whole number.) Fixed costs Contribution margin percentage Breakeven point in revenues = % = Requirement 3. What is the margin of safety in units) for June 2020? Determine the formula to calculate the margin of safety in units. Then enter the amounts in the formula and calculate the margin of safety for June 2020. Current sales level in units Breakeven point in units Margin of safety units 11 Requirement 4. If sales in June were only 9,500 units and Mirabella's tax rate is 30%, calculate its net income. Complete the table below to calculate Mirabella's net income if sales were only 9,500 units and Mirabella's tax rate is 30%. (Round the tax expense to the nearest whole number.) Less: Less: X Requirements 1. Recast the income statement to emphasize contribution margin. 2. Calculate the contribution margin percentage and breakeven point in units and revenues for June 2020. 3. What is the margin of safety (in units) for June 2020? 4. If sales in June were only 9,500 units and Mirabella's tax rate is 30%, calculate its net income Print Done Mirabella Beauty manufactures and sells a face cream to small specialty stores in the greater Los Angeles area. It presents the monthly operating income statement shown here to George Lupe, a potential investor in the business. Help Mr. Lupe understand Mirabella Beauty's cost structure. Click the icon to view the operating income statement.) Read the requirements. Requirement 1. Recast the income statement to emphasize contribution margin. Mirabella Cosmetics Operating Income Statement, June 2020 Units sold Revenues II Requirement 2. Calculate the contribution margin percentage and breakeven point in units and revenues for June 2020. Begin by selecting the formula to calculate the contribution margin percentage. Then enter the amounts in the formula to calculate the percent. (Enter the percentage as a whole number.) Contribution margin Revenues Contribution margin percentage % Determine the formula for the breakeven point in units. Next, enter the amounts to calculate the breakeven point. (Enter the contribution margin per unit to two decimal places, X.XX.) Fixed costs Contribution margin per unit = Breakeven point in units units Determine the formula to calculate the breakeven point in revenues. Then, enter the amounts in the formula. (Enter the percentage as a whole number.) Fixed costs Contribution margin percentage Breakeven point in revenues = % = Requirement 3. What is the margin of safety in units) for June 2020? Determine the formula to calculate the margin of safety in units. Then enter the amounts in the formula and calculate the margin of safety for June 2020. Current sales level in units Breakeven point in units Margin of safety units 11 Requirement 4. If sales in June were only 9,500 units and Mirabella's tax rate is 30%, calculate its net income. Complete the table below to calculate Mirabella's net income if sales were only 9,500 units and Mirabella's tax rate is 30%. (Round the tax expense to the nearest whole number.) Less: Less: X Requirements 1. Recast the income statement to emphasize contribution margin. 2. Calculate the contribution margin percentage and breakeven point in units and revenues for June 2020. 3. What is the margin of safety (in units) for June 2020? 4. If sales in June were only 9,500 units and Mirabella's tax rate is 30%, calculate its net income Print Done