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Exercise 6-11 Missing Data; Basic CVP Concepts [LO6-1, LO6-9]

Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then compute the missing items.)

Required:

a. Assume that only one product is being sold in each of the four following case situations:

b. Assume that more than one product is being sold in each of the four following case situations:

	Case #1		Case #2		Case #3		Case #4
Sales	$500,000		$400,000				$600,000
Variable expenses			260,000				420,000
Fixed expenses			100,000		130,000
Net operating income (loss)	$7,000				$20,000		$(5,000)
Contribution margin ratio (percent)	20	%		%	60	%		%