only question 3

Requirea: 1. Prepare a contribution format income statement for the month based on actual sales data. (Round your answers to 2 decimal places.) SMITHEN COMPANY Contribution Margin Income Statement Product Sinks Mirrors Total Vanities $ Percentage of total sales $ Sales 25.00% 151,200.00 39,900.00 111,300.00 41.67% 252,000.00 130,200.00 121,800.00 100.00 % $ 26.39 % $ 73.61 % Variable expenses 33.33 % 201,600.00 96,600.00 105.000.00 100.00 % $ 51.67% $ 48.33% $ 100.00 % 604,800.00 266,700.00 338, 100.00 356,700.00 Contribution margin $ $ Fixed expenses $ (18,600.00) Operating income (loss) 2. Compute the break-even point in sales dollars for the month, based on the actual data. (Round your percentage answers to nearest whole percent. Round other intermediate values and final answer to the nearest whole dollar.) Break-even point in sales dollars 638,104 3. Calculate the break-even point in unit sales for the month, based on the actual data. (Do not round your intermediate calculations. Round your final answer to the nearest whole number.) Break-even point in unit sales A $ $ 100.00 % 47.92 % 52.08 % 100.00 % 44.10 % 55.90 % Smithen 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 based on planned unit sales as follows: Units 1,000 Percentage Sinks Mirrors 50% 500 25% Vanities 500 25% Total 2,000 100% Percentage of total sales Sales Sinks. 48% Total 100% Variable expenses $288,000 100.00% $120,000 76,000 26.39% Product Mirrors Vanities 20% 32% $120,000 100.00% $192,000 100.00% $600,000 62,000 51.67% 92,000- 47.92% 204,900 $ 58,000 48.33% $100,000 $ 116.00 Contribution margin $212,000 73.61% 52.08% 395,100. Contribution margin per unit $ 212.00 $ 200.00 Fixed expenses 356,700 Operating income $ 38,400 Fixed expenses Overall CM ratio Break-even point in sales dollars. Break-even point in unit sales: $541,685.65 BEBE Total Fixed expenses Weighted-average CM per unit $356,700 $185.00* = 1,928.11 units *($212.00 x 0.50) + ($116.00 x 0.25) + ($200.00 x 0.25) As shown by these data, operating income is budgeted at $38,400 for the month, break-even sales dollars at $541,685.65, and break- even unit sales at 1,928.11. Assume that actual sales for the month total $604,800 (2,100 units), with the CM ratio and per unit amounts the same as budgeted. Actual fixed expenses are the same as budgeted, $356,700 Actual sales by product are as follows: sinks, $151,200 (525 units), mirrors, $252,000 (1,050 units), and vanities, $201,600 (525 units). Required: 1. Prepare a contribution format income statement for the month based on actual sales data (Round your answers to 2 decimal places.) 100.00% 34.15% 65.85% $356,700 0.66