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Requirements 1. Prepare contribution margin income statements at sales levels of $200,000 and $420,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in
Requirements 1. Prepare contribution margin income statements at sales levels of $200,000 and $420,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars. Data table Hopper Travel uses the contribution margin income statement internally. Hopper's second-quarter results are as follows: (Click the icon to view the income statement.) Hopper's relevant range is sales of between $100,000 and $640,000. Read the requirements. Requirement 1. Prepare contribution margin income statements at sales levels of $200,000 and $420,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $200,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.)
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