Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please Answer ASAP! Thank you Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for

Please Answer ASAP! Thank you image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
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 $ 670,000 $ 330,000 688 756 Sales CM ratio Total $ 1,000,000 2 Fixed expenses total $561,500 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 $52,000 a month, by how much would you expect the monthly net operating income to increase? 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 (.e. 0.1234 should be entered as 12.34).) Sure Shot Amount % Total Company Amount % Flight Dynamic Amount % % % $ 0 0.00% % 0 % % 0 % 0.00% $ 0 0.00% 0 $ 0 (Required Required 2 > operating income to increase? 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 sales Complete this question by entering your answers in the tabs below. Required 1 Required 2 Requied 3 If sales increase by $52,000 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions