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 Total Sales $750,000 $250,000 $1, 000,000 CM ratio 65 % Fixed expenses total $579,000 per month. Required: 1. Prepare a contribution format income statement for the company as a whole. Prepare a contribution format Income statement for the company as a whole. (Round your percentage answers to 2 decimal places (1.a. 0.1234 should be entered as 17-14).) Flight Dynamic Ture Shot Total Company Amount Amount Amount 2. What is the company's break-even point in dollar sales based on the current sales mix? What is the company's break even point in dellar malan banned on the current salas mix (Do not round Intermediate calculations. Found your answer to the nearest whole dollar amount. 3. If sales increase by $52,000 a month, by how much would you expect the monthly net operating income to increase? What is the company's break even point in dollar sales based on the current sales mix? (Do not round intermediate calulations. Found your answer to the nearest whole dollar amount}Menlo Company distributes a single product. The company's sales and expenses for last month follow: Total Per Unit Sales $604, 000 $ 40 Variable expenses 422, 800 28 Contribution margin 181, 200 $ 12 Fixed expenses 148, 800 Net operating income $ 32, 400 Required: 1. What is the monthly break-even point in unit sales and in dollar sales? What is the monthly break even point in unit sales and in dollar sales? Break-even point in unit sales Break-even point in dollar sales 2. Without resorting to computations, what is the total contribution margin at the break- even point? Without resorting to computations, what is the total contribution margin at the break-even point? Total contribution margin 3. a. How many units would have to be sold each month to attain a target profit of $74,400? How many units would have to be sold each month to attain a target profit of $74.4907 Units writes needed to atain 3. b. Verify your answer by preparing a contribution format income statement at the target sales level. Wendy your answer by preparing a contribution format income statement at the target wales level. Menlo Company Contribution Income Statement Total Pur Unit4. Refer to the original data. Compute the company's margin of safety in both dollar and percentage terms. Refer to the original data. Compute the company's margin of safety in both dollar and percentage terms. (Round your percentage answer to 2 dedmal places ().+. 0.1234 should be entered as 12.34).} Dollars Percentage Margin of safety 5. What is the company's CM ratio? If the company can sell more units thereby increasing sales by $81,000 per month and there is no change in fixed expenses, by how much would you expect monthly net operating income to increase? What is the company's CM ratio? If the company can tell more white thereby Increasing sales by $81900 per month and there he no change in food wapensek by how much would you expect monthly net operating income to locate?Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: 1at Quarter2nd Quarterard Quarter4th Quarter Total cash receipts 280, 000 $ 400,000 $ 330,000 $ 350,000 Total cash disbursements$ 344,000 $ 314, 000 $ 304,000 $ 324,000 The company's beginning cash balance for the upcoming fiscal year will be $45,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.] Garden Depot Cash Budget 1st Quarter and Quarter 3rd Quarter 4th Quarter Year Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Bomowings Rapayments Interest Total financing Ending cash balanceGig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process: Budgeted unit sales 500 Selling price per unit 1, 970 Cost per unit 1, 460 Variable selling and administrative expense (per unit) 50 Fixed selling and administrative expense (per year] $196, 000 Interest expense for the year $ 13, 000 Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income StatementThe management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year: Ending Balances Cach 2 Accounts 8, 500 receivable Supplies inventory 4,700 Equipment 36, 000 Accumulated 14, 600 depreciation Accounts payable 2,200 Common stock 5,000 Retained earnings The beginning balance of retained earnings was $32,000, net income is budgeted to be $16,300, and dividends are budgeted to be $2,700. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Mecca Copy Budgeted Balance Sheet Assets Current First Total current asset Plant and equipment Plant and equipment. net Total assets Liabilities and Stockholders Equity Current liabilities Stockholders equity: Total stockholders' equity Total liabilities and stockholders equityPearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters (cc) of solvent H300 are required to manufacture each unit of Supermix( one of the company's products. The company is planning its raw materials needs for the third quarter, the quarter in which peak sales of Supermix occur. To keep production and sales moving smoothly, the company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must equal 4,000 units of Supermix plus 25% of the next month's sales. The finished goods inventory on June 30 is budgeted to be 15,250 units. b. The raw materials inventory on hand at the end of each month must equal one-half of the following month's production needs for raw materials. The raw materials inventory on June 30 is budgeted to be 69,375 cc of solvent H300, c. The company maintains no work in process inventories. A monthly sales budget for Supermix for the third and fourth quarters of the year follows. Budgeted Unit Sales July 45, 000 August 50,000 September 60,000 October 40,000 November 30,000 December 20,000 Required: 1. Prepare a production budget for Supermix for the months July, August, September, and October. Prepare a production budget for Supermix for the months July August. September and October Pearl Products Limited Production Budget July Augunit October Budgeted unit sales Total remedy Required production in unite2. Prepare a direct materials budget showing the quantity of solvent H300 to be purchased for July, August, and September, and for the quarter in total. Proparo indirect materials budget showing the quantity of saleast H300 to be purchased for July Aug at and Bopbombon and for the quarter in Pearl Products Limited Direct Materish Budget July August September Third Quarter Unin of raw materials receded per unit of finished pooda Unity of raw materials needed to meet production Total units of raw material raceded Unity of raw material to be porch and