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Contribution margin, break-even sales, cost-volume-profit chart, margin of safety, and operating leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: It is expected that 11,760 units will be sold at a price of $300 a unit. Maxmum sales within the relevant range are 15,000 units. It is expected that 11,760 units will be sold at a price of $300 a unit. Maximum sales within the relevant range are 15,000 units. Required: 1. Prepare an estimated income statement for 20Y7. Check My Work 1. Use the data to compute the total costs. Remember that some of the costs have a fixed and a variable cost component. 2. What is the expected contribution margin ratio? (Round to the nearest whole percent.) % 2. What is the expected contribution margin ratio? (Round to the nearest whole percent.) X \% 3. Determine the break-even sales in units and dollars. Units X units Dollars x 4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? x 5. What is the expected margin of safety in dollars and as a percentage of sales? Dollars $ x Percentage: (Round to the nearest whole percent.) X\% 6. Determine the operating leverage. (Round to one decimal place.) x Feedback Check My Work 2. Sales minus variable cost equals contribution margin. Contribution margin divided by sales equals contributio 3. Fixed costs divided by unit contribution margin equals break-even sales in units. Break-even units times unit 4. Draw lines for total costs and total sales. The two lines should intersect at the break-even point. 5. (Sales minus sales at break-even point) divided by sales equals margin of safety. 6. Contribution margin divided by the income from operations equals operating leverage