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Exercise 3-4A (Algo) Determining variable cost from Incomplete cost data LO 3-1 Thornton Corporation produced 208,000 watches that it sold for $21 each during year 2. The company determined that fixed manufacturing cost per unit was $9 per watch. The company reported a $1.248.000 gross margin on its year 2 financial statements. Required Determine the variable cost per unit, the total variable cost, and the total contribution margin. s Variable cost per unit Total variable cost Total contribution margin S $ 9X 208,000 X 1,248,000 % Problem 3-17A (Algo) Determining the break-even point and preparing a contribution margin Income statement LO 3-1 Ritchie Manufacturing Company makes a product that it sells for $200 per unit. The company incurs variable manufacturing costs of $110 per unit. Variable selling expenses are $20 per unit, annual fixed manufacturing costs are $466,000, and fixed selling and administrative costs are $269,000 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation method. b. Use the contribution margin per unit approach. c. Use the contribution margin ratio approach. d. Prepare a contribution margin income statement for the break-even sales volume. Complete this question by entering your answers in the tabs below. RC9 A to C Reg D Determine the break-even point in units and dollars using the equation method, the contribution margin per unit approach and the contribution margin ratio approach. Break-even point in units Break-even point in dollars Contribution margin per unit Break-even point in units Break-even point in dollars Contribution margin ratio Break-even point in units Break-even point in dollars 10,500 200 X 70 10,500 $ 2.100.000 35 2,100,000 735,000 x % S Res At ReqD> Problem 3-17A (Algo) Determining the break-even point and preparing a contribution margin Income statement LO 3-1 Ritchie Manufacturing Company makes a product that it sells for $200 per unit. The company incurs variable manufacturing costs of $110 per unit. Variable selling expenses are $20 per unit, annual fixed manufacturing costs are $466,000, and fixed selling and administrative costs are $269.000 per year. Required Determine the break-even point in units and dollars using each of the following approaches: e. Use the equation method. b. Use the contribution margin per unit approach. c. Use the contribution margin ratio approach. d. Prepare a contribution margin income statement for the break-even sales volume. Complete this question by entering your answers in the tabs below. Req A to C Reg D Prepare a contribution margin income statement for the break-even sales volume. RITCHIE MANUFACTURING COMPANY Contribution Margin Income Statement Sales $ 210,000,000 Variable costs 115,500,000 X Contribution margin s 21,000,000 Fixed costs 73,500,000 $ Fixed costs 46,600,000 Net income (loss)
