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PA6-2 (Algo) Analyzing Break-Even Point, Setting Target Profit, Degree of Operating Leverage (LO 6-1, 6-2, 6-5) Russell Preston delivers parts for several local auto parts stores. He charges clients $1.20 per mile driven, Russell has determined that if he drives 2,700 miles in a month, his average operating cost is $0.80 per mile If he drives 3,700 miles in a month, his average operating cost is $0.70 per mile Russell has used the high-low method to determine that his monthly cost equation is total cost = $1,540 - $0.43 per mile Required: 1. Determine how many miles Russell needs to drive to break even 2. Assume Russell drove 2,500 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month 3. Determine how many miles Russell must drive to earn $1.925 in profit 4-a. Prepare a contribution margin income statement assuming Russell drove 2,500 miles last month 4-b. Use the information provided in Reg 4a to calculate Russell's degree of operating leverage. Complete this question by entering your answers in the tabs below. Required: 1. Determine how many miles Russell needs to drive to break even 2. Assume Russell drove 2,500 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month 3. Determine how many miles Russell must drive to eam $1.925 in profil 4-a. Prepare a contribution margin Income statement assuming Russell drove 2,500 miles last month. 4-6. Use the information provided in Req 4a to calculate Russell's degree of operating leverage. Complete this question by entering your answers in the tabs below. Reg 2 Reg Reg 3 Req 4A Req 48 Determine how many miles Russell needs to drive to break even. Break Ever Miles Milos RA Req2 > Required: 1. Determine how many miles Russell needs to drive to break even 2. Assume Russell drove 2,500 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month 3. Determine how many miles Russell must drive to earn $1,925 in profit 4-a. Prepare a contribution margin income statement assuming Russell drove 2,500 miles last month. 4-6. Use the information provided in Req 4a to calculate Russell's degree of operating leverage Complete this question by entering your answers in the tabs below. Reg: Req3 Reg 2 Req 4A Reg 4B Assume Russell drove 2,500 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month. O Profit Loss Required: 1. Determine how many miles Russell needs to drive to break even 2. Assume Russell drove 2,500 miles last month Without making any additional calculations, determine whether he earned a profit or a loss last month 3. Determine how many miles Russell must drive to earn $1,925 in profit. 4-a. Prepare a contribution margin income statement assuming Russell drove 2,500 miles last month. 4-6. Use the information provided in Req 4a to calculate Russell's degree of operating leverage Complete this question by entering your answers in the tabs below. Reg 1 Red 2 Reg 4A Req 48 Determine how many miles Russell must drive to earn $1,925.00 in profit. Target Miles Miles Req 1 Reg 2 Reg 3 Reg 4A Req 4B Prepare a contribution margin income statement assuming Russell drove 2,500 miles last month. RUSSELL PRESTON Contribution Margin Income Statement For Last Month Contribution Margin Income from Operations Chec 4-6. Use the information provided in Req 4a to calculate Russell's degree of operating leverage. Complete this question by entering your answers in the tabs below. Reg 1 Req2 Req3 Reg 4 Reg 48 Use the information provided in Req 4a to calculate Russell's degree of operating leverage. (Round your answer to the 2 decimal places.) Dogroe of Operating Leverage