Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please makeup your own data and write answers in the same order as questions. 14. Enterprise, Inc needs a forecast (budget) Income Statement and Cost-Volume

Please makeup your own data and write answers in the same order as questions. image text in transcribed
image text in transcribed
14. Enterprise, Inc needs a forecast (budget) Income Statement and Cost-Volume Profit information for December 2020. All of Enterprise's costs are mixed costs. The company sells are product at a single price per wit Instructions: a) Make up your own December 2020 Budget data in the following format: Sales Revenue Budget: Sales Units ???? I Sales Price per Unit $?? Total Sales Revenue $????? Mixed Cost Data (units and cost must be different on each line to receive credit): Units Produced Total Cost ??? S?222 ??? S???? ??? S???? 232 S???? b) Calculate your Variable Cost per unit and Total Fixed Cost using the High-low Method. c) Calculate your budget Net Income or Loss for December 2020 for the number of units on your Sales Revenue Budget. d) Calculate your total Contribution Margin (CM) and CM per unit. e) Calculate your Break-Even Sales units and Break-Even Sales Revenue (round to nearest unit and Sl of Sales Revenue). 1) Calculate the Margin of Safety percentage (ratio) at your budget Sales Revenue (round to nearest 00.0%)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Floyd A. Beams, Robin P. Clement, Suzanne H. Lowensohn, Joseph H. Anthony

9th Edition

0131851225, 978-0131851221

More Books

Students also viewed these Accounting questions

Question

Quantity

Answered: 1 week ago