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*** NO NEED FOR EXPLANATIONS. JUST THE ANSWR PLEASE *** Smitten Company, a wholesale distributor, has been operating for only a few months. the company
*** NO NEED FOR EXPLANATIONS. JUST THE ANSWR PLEASE ***
Smitten Company, a wholesale distributor, has been operating for only a few months. the company sells three products-sinks, mirrors, and vanities. Budgeted sales by product and in total for the coming month are shown below: Break-even point in sales dollars = Fixed expenses/CM ratio = $438,000/0.6 = $730.000 As shown by these data, operating income is budgeted at $102.000 for the month, and break-even sales at $730,000. Assume that actual sales for the month total $900.000 as planned. Actual sales by product are: sinks. $360.000; mirrors, $360.000; and vanities, $180.000. Required: Prepare a contribution-format income statement for the month based on actual sales data. Present the income statement in the format shown above. (Negative amounts should be indicated by a minus sign. Omit the signs in your response.) Compute the break-even point in sales dollars for the month, based on your actual data. (Omit the sign in your response.)
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