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Please provide detailed explanation with calculations and formulas used to derive answers Miller Company's most recent income statement follows: Sales (20,000 units) Less: Variable expenses
Please provide detailed explanation with calculations and formulas used to derive answers
Miller Company's most recent income statement follows: Sales (20,000 units) Less: Variable expenses Contribution margin Less: Fixed expenses Net income Total $440,000 260,000 180,000 58,000 $122,000 Per Unit $ 22 13 $ 9 Consider each of the following cases independently. Required: 1. Prepare a new income statement if the sales volume increases by 20%, and the selling price decreases by $4.00. intermediate calculations. Round "Per Unit" answers to 2 decimal places.) Total Per Unit Sales 2. Prepare a new income statement if the selling price decreases by $1.0 per unit, and the sales volume increases by 15%. (D round intermediate calculations. Round "Per Unit" answers to 2 decimal places.) Total Per Unit Sales w 3. Prepare a new income statement if the selling price increases by $2.5 per unit, fixed expenses increase by $9,000 and the sales volume decreases by 5%. (Do not round intermediate calculations. Round "Per Unit" answers to 2 decimal places.) Total Per Unit Sales 4. Prepare a new income statement if the selling price increases by 5%, variable expenses increase by $0.15 per unit and the sales volume decreases by 25%. (Do not round intermediate calculations. Round "Per Unit" answers to 2 decimal places.) Total Per Unit SalesStep by Step Solution
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