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It is expected that 9,620 units will be sold at a price of $105 a unit. Maximum sales within the relevant Required: 1. Prepare an estimated income statement for 2017. Belmain Co. Estimated Income Statement For the Year Ended December 31, 2017 Sales Cost of goods sold: Direct materials Direct labor Factory overhead Total cost of goods sold Gross profit Expenses: Selling expenses: Sales salaries and commissions Advertising 16,800 Travel 3,700 Miscellaneous selling expense nment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Miscellaneous selling expense Total selling expenses Administrative expenses: Office and officers' salaries 48,500 Supplies Miscellaneous administrative expense Total administrative expenses Total expenses Income from operations Feedback Check My Work 1. Use the absorption costing format. Learning Objective 2, Learning Objective 3, Learning Objective 4, and Learning Objective 5. 2. What is the expected contribution margin ratio? Round to the nearest whole percent. % Check My Work Omore Check My Work uses remaining, 1. Use the absorption costing format. Learning Objective 2, Learning Objective 3, Learning Objective 4, and Learning Objective 5. 2. What is the expected contribution margin ratio? Round to the nearest whole percent. % 3. Determine the break-even sales in units and dollars. Units units Dollars units 4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? $ 5. What is the expected margin of safety in dollars and as a percentage of sales? Dollars: % Percentage: (Round to the nearest whole percent.) 6. Determine the operating leverage. Round to one decimal place. Feedback Check My Work gnment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads asked to submit estimates of the costs for their departments during the year. summary report of these estimates is as follows Estimated Fixed Cost Estimated Variable Cost (per unit sold) Production costs: Direct materials $15 10 Direct labor Factory overhead $238,700 8 Selling expenses: Sales salaries and commissions 49,600 3 16,800 3,700 4,100 3 Advertising Travel Miscellaneous selling expense Administrative expenses: Office and officers' salaries Supplies Miscellaneous administrative expense 48,500 6,000 1 5,560 2 Total $372,960 $42 It is expected that 9,620 units will be sold at a price of $105 a unit. Maximum sales within the relevant range are 12,000 units. Required: It is expected that 9,620 units will be sold at a price of $105 a unit. Maximum sales within the relevant Required: 1. Prepare an estimated income statement for 2017. Belmain Co. Estimated Income Statement For the Year Ended December 31, 2017 Sales Cost of goods sold: Direct materials Direct labor Factory overhead Total cost of goods sold Gross profit Expenses: Selling expenses: Sales salaries and commissions Advertising 16,800 Travel 3,700 Miscellaneous selling expense nment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Miscellaneous selling expense Total selling expenses Administrative expenses: Office and officers' salaries 48,500 Supplies Miscellaneous administrative expense Total administrative expenses Total expenses Income from operations Feedback Check My Work 1. Use the absorption costing format. Learning Objective 2, Learning Objective 3, Learning Objective 4, and Learning Objective 5. 2. What is the expected contribution margin ratio? Round to the nearest whole percent. % Check My Work Omore Check My Work uses remaining, 1. Use the absorption costing format. Learning Objective 2, Learning Objective 3, Learning Objective 4, and Learning Objective 5. 2. What is the expected contribution margin ratio? Round to the nearest whole percent. % 3. Determine the break-even sales in units and dollars. Units units Dollars units 4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? $ 5. What is the expected margin of safety in dollars and as a percentage of sales? Dollars: % Percentage: (Round to the nearest whole percent.) 6. Determine the operating leverage. Round to one decimal place. Feedback Check My Work gnment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads asked to submit estimates of the costs for their departments during the year. summary report of these estimates is as follows Estimated Fixed Cost Estimated Variable Cost (per unit sold) Production costs: Direct materials $15 10 Direct labor Factory overhead $238,700 8 Selling expenses: Sales salaries and commissions 49,600 3 16,800 3,700 4,100 3 Advertising Travel Miscellaneous selling expense Administrative expenses: Office and officers' salaries Supplies Miscellaneous administrative expense 48,500 6,000 1 5,560 2 Total $372,960 $42 It is expected that 9,620 units will be sold at a price of $105 a unit. Maximum sales within the relevant range are 12,000 units. Required
