Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Flight Sure Dynamic Shot $ 680,000 $ 320,000 60% 74% Sales CM ratio Total $ 1,000,000 ? Fixed expenses total $597,000 per month. Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $43,000 a month, by how much would you expect the monthly net operating income to increase? * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution format income statement for the company as a whole. (Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Sales Variable expenses Contribution margin Fixed expenses OOOO Flight Dynamic Amount % $ 680,000 100.00 % 272,000 40.00% $ 408,000 60.00 % Sure Shot Amount % $ 320,000 100.00% 83,200 26.00% $ 236,800 74.00 % Total Company Amount % 1,000,000 100.00 % 355,200 35.52% 644,800 64.48 % 597,000 Olongapo Sports Corporation distributes two premium golf ballsFlight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Flight Sure Dynamic Shot $ 680,000 $ 320,000 60% 74% Sales CM ratio Total $ 1,000,000 ? Fixed expenses total $597,000 per month. Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $43,000 a month, by how much would you expect the monthly net operating income to increase? X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the company's break-even point in dollar sales based on the current sales mix? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales $ 9,258 Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Flight Sure Dynamic Shot $ 680,000 $ 320,000 60% 74% Sales CM ratio Total $ 1,000,000 ? Fixed expenses total $597,000 per month. Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $43,000 a month, by how much would you expect the monthly net operating income to increase? % Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 If sales increase by $43,000 a month, by how much would you expect the monthly net operating income to increase? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Net operating income increases by $ 43,064
