Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following is the contribution margin income statement of Triumph Company for the Year 2021: Sales Variable costs Contribution margin Fixed costs Income $1,300,000

The following is the contribution margin income statement of Triumph Company for the Year 2021: Sales Variable costs Contribution margin Fixed costs Income $1,300,000 800,000 500,000 300,000 $200,000 There is no beginning and ending inventories. Production and Sales are 10,000 units during the year. Required: (Show all calculations and round ALL answers to 2 decimal places.) a. Calculate the company's contribution margin ratio. b. Calculate the company's breakeven point (in units). c. Calculate the company's margin of safety (in dollars). d. If sales increase by 100 units, by how much should income increase? e. (4 marks) (4 marks) (4 marks) (4 marks) How many units would the company have to sell to produce a target income of $350,0002 (4 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provide... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial and Managerial Accounting

Authors: Horngren, Harrison, Oliver

3rd Edition

978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978

More Books

Students also viewed these Accounting questions

Question

Describe Hartleys seven varieties of pleasure.

Answered: 1 week ago

Question

2. You are given the following payoff table:

Answered: 1 week ago