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Please help on requirement 1 & 2 Countrywide Travel uses the contribution margin income statement internally. Countrywide's first quarter results are as follows: (Click the
Please help on requirement 1 & 2
Countrywide Travel uses the contribution margin income statement internally. Countrywide's first quarter results are as follows: (Click the icon to view the income statement.) Countrywide's relevant range is sales of between $125,000 and $660,000. i Requirements - X Read the requirements. Three Months Ended March 31 Sales revenue $ 1. Prepare contribution margin income statements at sales levels of $180,000 180,000 and $480,000. (Hint: Use the contribution margin ratio.) Less: Variable expenses 54,000 2. Compute breakeven sales in dollars. Contribution margin $ 126,000 Less: Fixed expenses 170,800 $ (44,800) Operating income (loss) Now prepare the contribution margin income statement at the $480,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.) Print Done Countrywide Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue 660000 -198000 Less: Variable expenses Contribution margin 462000 170,800 Less: Fixed expenses 291200 Operating income (loss) | Data Table Countrywide Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue $ 400,000 120,000 Less: Variable expenses Contribution margin 280,000 170,800 Less: Fixed expenses Operating income 109,200Step by Step Solution
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