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 Bure Dynamie Shot $ 650,000 $ 340,000 654 778 Sales CM tatio Total $1,000,000 2 Fixed expenses total $558.500 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 $56,000 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 Required 2 Required Prepare a contribution format income statement for the company as a whole (round your percentage answers to 2 decimi places 0.134 should be entered a 12.34): 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 de 0.1234 sho be entered as 12.34).) Sure Shot % Flight Dynamic Amount % S 660,000 100.00% 231.000 35.00% $ 429,000 55.00 % Sales Variable penses Contribution margin Fixed expenses Net operating income 23.00 Amount % $ 340.000 100.00 78.200 $ 261,800 77.00 % ooooo Total Company Amount 1,000,000 100.00 309.200 30.26 690.800 69.74 558,500 $ 132,300 * Required 2 > Fixed expenses total $558,500 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 $56,000 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 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 800,832 Ret Fixed expenses total $558,500 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 $56,000 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 $56,000 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 33
