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: Percentage 50% Sinks Mirrors Vanities Total Units 1,380 690 69 2,760 255 1001 32% Percentage of total sales Sales Variable expenses Contribution margin Contribution martin per unit Fived expenses Operating income Product Sinks Mirrors Vanities Total 48 20% 100% 5297,000 100.00% 5123.750 100.00% $190,000 100.00% 5618,750 100.00% 89, 100 30.00% 99,000 80.00 108,900 55.005 297,000 48.00% 52e7,900 70.00% 5 24,750 20.005 $ 89,100 45.00% 321,750 52.00% $ 150.65 $ 35.7 $ 129.13 275,705 $ 45,845 Fixed expenses Overall CM ratio $276,705 2.52 = $532,125.ee Break-even point in sales dollars $116.58 Break-even point in unit sales: Total Fixed expenses $276,705 = 2,373.60 units weighted average of per unit "($150,65 0.50) . (535.87 0.25) + (5129.11. 0.25) As shown by these data, operating income is budgeted at $45,045 for the month, break-even sales dollars at $532,125.00, and break- even unit sales at 2,373.60 Assume that actual sales for the month total $599,000 (2,860 units), with the CM ratio and per unit amounts the same as budgeted Actual fixed expenses are the same as budgeted $276705. Actual sales by product are as follows: sinks, $164.000 (715 units) mirrors, $229,000 (1430 units), and vanities, $206,000 (715 units) Required: 1. Prepare a contribution format Income statement for the month based on actual sales data (Round your answers to 2 decimal places.) 1 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 % % % Total Operating income (los) 2. Compute the break-even point in sales dollars for the month, based on the actual data. (Round your percentage answers to nearest whole percent. Round other intermediate values and final answer to the nearest whole dollar.) Break even part in a cars 3. Calculate the break-even point in unit sales for the month, based on the actual data (Do not round your intermediate calculations Round your final answer to the nearest whole number.) Brmal even point in un sales 3. Calculate the break-even point in unit sales for the month, based on the actual data (Do not round your intermediate calculations. Round your final answer to the nearest whole number) Brvenport in unitas 4. This part of the question is not part of your Connect assignment
