PR 21-5A, PR 21-6A eBook Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage ? Instructions Accounts, Labels and Amount Descriptions Income Statement Additional Questions Final Questions Additional Questions X Final Questions X 2 5. What is the expected margin of safety in dollars and as a percentage of sales? If applicable, use amounts previously computed and then round your answers to the nearest whole number. Dollars $ 3. Percentage % 6. Determine the operating leverage. Round to one decimal place. 4. Check My Work Assignment Score: 0.0% All work saved. Save and Exit Submit AssifPR 21-5A, PR 21-6A eBook Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage ? Instructions Accounts, Labels and Amount Descriptions Income Statement Additional Questions Final Questions Instructions X Accounts, Labels and Amount Descriptions X 1200.00 Income Statement X 1. Prepare an estimated income statement for 20Y8. Be sure to complete the statement heading. Refer to the list of Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. A colon (:) will automatically appear if it is required. Wolsey Industries Inc. Estimated Income Statement (Label) 2 Cost of goods sold: 3 5 6 7 8 (Label) 9 Selling expenses: Check My Work Previous Assignment Score: 0.0% All work saved. Save and Exit Submit Assignment for GradingPR 21-5A, PR 21-6A eBook Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage ? Instructions Accounts, Labels and Amount Descriptions Income Statement Additional Questions Final Questions Instructions X Accounts, Labels and Amount Descriptions 200.00 Income Statement X 7 8 (Label) 9 Selling expenses: 10 11 12 13 14 15 Administrative expenses: 16 17 18 19 20 21 Check My Work Assignment Score: 0.0% All work saved. Save and Exit Submit AssifPR 21-5A, PR 21-6A eBook Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage ? 1. PR.21.05A Instructions Accounts, Labels and Amount Descriptions Income Statement Additional Questions 2. PR.21.06.BLANKSHEET.AL... . Instructions X Wolsey Industries Inc. expects to maintain the same inventories at the end of 20Y8 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: Estimated Estimated Fixed Variable Cost (per Cost unit sold) 2 Production costs: 3 Direct materials $58.00 Direct labor 38.00 5 Factory overhead $194,000.00 20.00 Selling expenses: 7 Sales salaries and commissions 102,000.00 8.00 8 Advertising 42,000.00 9 Trave 8,000.00 10 Miscellaneous selling expense 7,800.00 1.00 11 Administrative expenses: Progress: 2/2 items Check My Work Previous Assignment Score: 0.0% Save and Exit Submit Assignment for GradingPR 21-5A, PR 21-6A eBook Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage 1. PR.21.05A ? Instructions Accounts, Labels and Amount Descriptions Income Statement Additional Questions 2. PR.21.06.BLANKSHEET.AL... . Instructions X Direct labor 38.00 5 Factory overhead $194,000.00 20.0 6 Selling expenses Sales salaries and commissions 102,000.00 8.00 Advertising 42,000.00 9 Travel 8,000.00 10 Miscellaneous selling expense 7,800.00 1.00 11 Administrative expenses: 12 Office and officers'salaries 135,200.00 13 Supplies 10,000.00 2.00 14 Miscellaneous administrative expense 14,600.00 1.00 15 Total $513,600.00 $128.00 It is expected that 21,400 units will be sold at a price of $160 a unit. Maximum sales within the relevant range are 26,000 units. Required: 1. Prepare an estimated income statement for 20Y8. Be sure to complete the statement heading. Refer to the list of Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a Progress: 2/2 items Check My Work Previous Assignment Score: 0.0% Save and Exit Submit Assignment for GradingPR 21-5A, PR 21-6A eBook Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage ? Instructions Accounts, Labels and Amount Descriptions Income Statement Additional Questions Final Questions Instructions X 12 Office and officers' salaries 135,200.00 13 Supplies 10,000.00 2.00 14 Miscellaneous administrative expense 14,600.00 1.00 X 15 Total $513,600.00 $128.00 est It is expected that 21,400 units will be sold at a price of $160 a unit. Maximum sales within the relevant range are 26,000 units. Required: 1. Prepare an estimated income statement for 20Y8. Be sure to complete the statement heading. Refer to the list of Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. A colon (:) will automatically appear if it is required. 2. What is the expected contribution margin ratio? 3. Determine the break-even sales in units and dollars. Round your answers to the nearest whole number. 4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? 5. What is the expected margin of safety in dollars and as a percentage of sales? Round your answers to the nearest whole number. 6. Determine the operating leverage. Round to one decimal place. Check My Work Previous Assignment Score: 0.0% All work saved. Save and Exit Submit Assignment for GradingPR 21-5A, PR 21-6A eBook 1. PR.21.05A Sales Mix and Break-Even Sales Data related to the expected sales of laptops and tablets for Tech Products Inc. for the current year, which is typical of recent years, are as follows: 2. PR.21.06.BLANKSHEET.AL... . Products Unit Selling Price Unit Variable Cost Sales Mix Laptops $1,600 $800 40% Tablets 850 350 60% The estimated fixed costs for the current year are $2,498,600. Required: 1. Determine the estimated units of sales of the overall (total) product, E, necessary to reach the break-even point for the current year. units 2. Based on the break-even sales (units) in part (1), determine the unit sales of both laptops and tablets for the current year. Laptops units Tablets units 3. Assume that the sales mix was 50% laptops and 50% tablets. Compute the break-even point of the overall (total) product E. units Why is it so different? The break-even point is in this scenario than in part (1) because the sales mix is weighted heavily toward the product with the contribution margin per unit of product. Progress: 1/2 items Check My Work Next Assignment Score: 0.0% Save and Exit Submit Assignment for GradingPR 21-5A, PR 21-6A eBook Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage ? Instructions Accounts, Labels and Amount Descriptions Income Statement Additional Questions Final Questions Additional Questions X 2. What is the expected contribution margin ratio? % 3. Determine the break-even sales in units and dollars. Start by using the contribution margin ratio (part B.) and then round your answers to the nearest whole number. Units units Dollars $ 4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? $ Check My Work Previous Assignment Score: 0.0% All work saved. Save and Exit Submit Assignment for Grading