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Please help answer the blanks Product Profitability Analysis Galaxy Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVs), the Conquistador and Hurricane,
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Product Profitability Analysis Galaxy Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVs), the Conquistador and Hurricane, from a single manufacturing facility. The manufacturing facility operates at 100% of capacity. The following per-unit information is available for the two products: Conquistador Hurricane Sales price $6,000 $3,600 Variable cost of goods sold (3,780) (2,410) Manufacturing margin $2,220 $1,190 Variable selling expenses (1,080) (542) Contribution margin $1,140 $648 Fixed expenses (540) (260) Operating income $600 $388 In addition, the following sales unit volume information for the period is as follows: Conquistador Hurricane Sales unit volume 2,500 1,800 a. Prepare a contribution margin by product report. Compute the contribution margin ratio for each product as a whole percent. Galaxy Sports Inc. Contribution Margin by Product Conquistador Hurricane Sales Variable cost of goods sold Manufacturing margin Variable selling expenses Contribution margin Contribution margin ratio %Step by Step Solution
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