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Topper Sports, Incorporated, produces high-quality sports equipment. The company's Racket Division manufactures three tennis racketsthe Standard, the Deluxe, and the Prothat are widely used in amateur play. Selected information on the rackets is given below: Standard Deluxe Pro Selling price per racket $ 45.00 $ 70.00 $ 100.00 Variable expenses per racket: Production $ 27.00 $ 35.00 $ 36.00 Selling (5% of selling price) $ 2.25 $ 3.50 $ 5.00 All sales are made through the company's own retail outlets. The Racket Division has the following xed costs: Per Month Fixed production costs $ 140.000 Advertising expense 120,000 Administrative salaries 70,000 Total $ 330,000 Sales, in units, over the past two months have been as follows: Standa rd Deluxe Pro Total April 2,000 1,000 5,000 8, 000 May 8,000 1,000 3,000 12,000 Required: 1a. Prepare contribution format income statements for April. 1-b. Prepare contribution format income statements for May. 3. Compute the Racket Division's break-even point in dollar sales for April. 4. Will the break-even point would be higher or lower with May's sales mix than with April's sales mix? 5. Assume that sales of the Standard racket increase by $22,000. What would be the effect on net operating income? What would be the effect if Pro racket sales increased by $22,000? Do not prepare income statements; use the incremental analysis approach in determining your answer. Req 1A Req 1B Req 3 Reg 4 Req 5 Prepare contribution format income statements for April. (Round "Total percent" answers to 1 decimal place) Topper Sports, Incorporated Income Statement for April Standard Deluxe Pro Total Amount % Amount % Amount % Amount % Variable expenses: Total variable expenses Fixed expenses: Total fixed expensesPrepare contribution format income statements for May. (Round "Total percent" answers to 1 decimal place) Variable p _---_-_- Req 1A Req 1B Req 3 Req 4 Req 5 Compute the Racket Division's break-even point in dollar sales for April. (Round intermediate percentage calculations to 1 decimal place and final answer to the nearest whole dollar.) Break-even point in dollar salescomplete this question by entering your answers in the tabs below. Req 1A Req 1B Req 3 Req 4 Req 5 Assume that sales of the Standard racket increase by $22,000. What would be the effect on net operating income? What would be the effect if Pro racket sales increased by $22,000? Do not prepare income statements; use the incremental analysis approach in determining your answer. Standard Pro Effect on Net operating incomeHoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 147,000 kilometers during a year, the average operating cost is 8.7 cents per kilometer. lfa truck is driven only 98,000 kilometers during a year, the average operating cost increases to 9.6 cents per kilometer. Required: 1. Using the high-low method, estimate the variable operating cost per kilometer and the annual xed operating cost associated with the fleet of trucks. 2. Express the variable and fixed costs in the form Y: a + bX. 3. If a truck were driven 122,000 kilometers during a year, what total operating cost would you expect to be incurred? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the high-low method, estimate the variable operating cost per kilometer and the annual fixed operating cost associated with the eet of trucks. (Do not round your intermediate calculations. Round the Variable cost per kilometer to 3 decimal places.) Variable cost per kilometer Fixed cost per year Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 147,000 kilometers during a year, the average operating cost is 8.7 cents per kilometer. lfa truck is driven only 98,000 kilometers during a year, the average operating cost increases to 9.6 cents per kilometer. Required: 1. Using the high-low method, estimate the variable operating cost per kilometer and the annual xed operating cost associated with the fleet of trucks. 2. Express the variable and fixed costs in the form Y=a + bX. 3. If a truck were driven 122,000 kilometers during a year, what total operating cost would you expect to be incurred? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Express the variable and fixed costs in the form Y = a + bX. (Do not round your intermediate calculations. Round the Variable cost per kilometer to 3 decimal places.) Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 147,000 kilometers during a year, the average operating cost is 8.7 cents per kilometer. lfa truck is driven only 98,000 kilometers during a year, the average operating cost increases to 9.6 cents per kilometer. Required: 1. Using the high-low method, estimate the variable operating cost per kilometer and the annual xed operating cost associated with the fleet of trucks. 2. Express the variable and fixed costs in the form Y=a + bX. 3. If a truck were driven 122,000 kilometers during a year, what total operating cost would you expect to be incurred? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 If a truck were driven 122,000 kilometers during a year, what total operating cost would you expect to be incurred? (Do not round intermediate calculations.) Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of riceWhite, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Product White Fragrant Loonzain Total Percentage of total sales 48% 20% 32% 100% Sales $ 326.400 100% $ 136,000 100% $ 217,600 100% $ 680,000 100% variable expenses 97.920 30% 108,800 80% 119,680 55% 326,400 48% Contribution margin $ 228.430 7096 $ 27,200 2096 $ 97,920 4596 353.600 5296 Fixed expenses 227,760 Net operating income $ 125.840 Dollar sales to break-even = Fixed expenses / CM ratio = $227,760 / 0.52 = $438,000 As shown by these data, net operating income is budgeted at $125,840 for the month and the estimated break-even sales is $438,000. Assume that actual sales for the month total $680,000 as planned; however, actual sales by product are: White, $217,600; Fragrant. $272,000; and Loonzain, $190,400. Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Required 1 Required 2 Compute the break-even point in dollar sales for the month based on your actual data. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Break-even point in dollar salesMenlo Company distributes a single product. The company's sales and expenses for last month follow: Per Total Unit Sales $ 624,000 $ 40 Variable expenses 436,800 28 Contribution margin 187,200 $ 12 Fixed expenses 144,000 Net operating income $ 43.200 Required: 1. What is the monthly break-even point in unit sales and in dollar sales? 2. Without resorting to computations, what is the total contribution margin at the break-even point? 3a. How many units would have to be sold each month to attain a target prot of $84,000? 3-b. Verify your answer by preparing a contribution format income statement at the target sales level. 4. Refer to the original data. Compute the company's margin of safety in both dollar and percentage terms. 5. What is the company's CM ratio? If the company can sell more units thereby increasing sales by $61,000 per month and there is no change in xed expenses, by how much would you expect monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3A Req 3B Req 4 Req 5 What is the monthly break-even point in unit sales and in dollar sales? Break-even point in unit sales units Break-even point in dollar sales Menlo Company distributes a single product. The company's sales and expenses for last month follow: Per Total Unit Sales $ 624.000 $ 40 Variable expenses 436,800 28 Contribution margin 187,200 $ 12 Fixed expenses 144,000 Net operating income $ 43.200 Required: 1. What is the monthly breakeven point in unit sales and in dollar sales? 2. Without resorting to computations, what is the total contribution margin at the break-even point? 3a. How many units would have to be sold each month to attain a target prot of $84,000? 3-b. Verify your answer by preparing a contribution format income statement at the target sales level. 4. Refer to the original data. Compute the company's margin of safety in both dollar and percentage terms. 5. What is the company's CM ratio? If the company can sell more units thereby increasing sales by $61,000 per month and there is no change in xed expenses, by how much would you expect monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Without resorting to computations, what is the total contribution margin at the break-even point? _:I Menlo Company distributes a single product. The company's sales and expenses for last month follow: Per Total Unit Sales $ 624.000 $ 40 Variable expenses 436,800 28 Contribution margin 187,200 $ 12 Fixed expenses 144,000 Net operating income $ 43.200 Required: 1. What is the monthly breakeven point in unit sales and in dollar sales? 2. Without resorting to computations, what is the total contribution margin at the break-even point? 3a. How many units would have to be sold each month to attain a target prot of $84,000? 3-b. Verify your answer by preparing a contribution format income statement at the target sales level. 4. Refer to the original data. Compute the company's margin of safety in both dollar and percentage terms. 5. What is the company's CM ratio? If the company can sell more units thereby increasing sales by $61,000 per month and there is no change in xed expenses, by how much would you expect monthly net operating income to increase? Complete this question by entering your answers in the tabs below. How many units would have to be sold each month to attain a target prot of $84,000? Req 1 Req 2 Req 3A Req 3B Req 4 Req 5 Verify your answer by preparing a contribution format income statement at the target sales level. Menlo Company Contribution Income Statement Total Per Unit Sales Variable expenses Contribution margin 0 $ 0 Fixed expenses Net operating income $ 0 Complete this question by entering your answers in the tabs below. What is the company's CM ratio? If the company can sell more units thereby increasing sales by $61,000 per month and there is no change in xed expenses, by how much would you expect monthly net operating income to increase? CM ratio 30 o % Net operating income increases by $ 52,000 8