Smithen Company, a wholesale distributor, has been operating for only a few months. The company sells three products-sinks. mirrors, and vanities. Budgeted sales by product and in total for the coming month are shown below based on planned unit sales as follows: Units Percentage Sinks 1,000 50% Mirrors 500 25% Vanities 500 25% Total 2,000 100% Percentage of total sales Sales Variable expenses Contribution margin Contribution margin per unit Sinks 48% $288,000 100.00% $120,000 100.00% $192,000 100.00% 76,000 $212,000 $212.00 Product Mirrors 20% Vanities 32% Total 100% $600,000 100.00% 26.39% 62,000 51.67% 92,000 73.61% $58,000 48.33% $100,000 47.92% 52.08% 204,900 34.15% 395,100 65.85% $116.00 $ 200.00 Fixed expenses Operating Income 356,700 $30,400 Fixed expenses $356,700 6 ts Contribution margin per unit Fixed expenses Operating income $212.00 $116.00 $ 200.00 356,700 $38,400 Break-even point in sales dollars Skipped Fixed expenses Overall CH ratio $356,700 -$541,685.65 0.66 Break-even point in unit sales: Total Fixed expenses Weighted-average CH per unit $356,700 $185.00 1,928.11 units Check my work ($212.00 x 0.50) + ($116.00 x 0.25)+($200.00 x 0.25) As shown by these data, operating income is budgeted at $38,400 for the month, break-even sales dollars at $541,685 65, and break- even unit sales at 1,928.11. Assume that actual sales for the month total $604,800 (2.100 units), with the CM ratio and per unit amounts the same as budgeted Actual fixed expenses are the same as budgeted, $356,700. Actual sales by product are as follows: sinks, $151,200 (525 units); mirrors. $252.000 (1,050 units); and vanities, $201,600 (525 units). Required: 1. Prepare a contribution format income statement for the month based on actual sales data. (Round your answers to 2 decimal places.). Check my work ASSU Us, was Sawy Actual fixed expenses are the same as budgeted, $356,700. Actual sales by product are as follows: sinks, $151,200 (525 units), mirrors, $252,000 (1,050 units): and vanities, $201,600 (525 units). Required: 1. Prepare a contribution format income statement for the month based on actual sales data. (Round your answers to 2 decimal places.) SMITHEN COMPANY Contribution Margin Income Statement Product Sinks Mirrors Vanities Percentage of total sales % % % % % % % $ 0.00 0.00 % $ 0.00 0.00 % $ 000 0.00% Operating income (loss) Total % 0.00 $ 0.00 ed 4,000 12,10U UHS), WIT te cm Tauu anu per un US the same as d, $356,700. Actual sales by product are as follows: sinks, $151,200 (525 units), mirrors, 525 units). ent for the month based on actual sales data. (Round your answers to 2 decimal SMITHEN COMPANY Contribution Margin Income Statement Product Mirrors Vanities Total % % % % % % % % % 0.00 % $ 0.00 0.00 % $ 0.00 0.00% 0.00 0.00 % $ 0.00 Che