Unit 2 Assignment - Cost Volume Profit SubtAssigement ents Due Sunday by 11:59pm Points 80 Submitting a text entry box or a file upload Instructions In this assignment we will explore Cost-Volume-Profit (CVP) which examines how costs behave. Specifically, we will look at fixed and variable costs to see how changes in each affect profitability. Download the assignment template and complete the problems on each tab. ns In this assignment Problem 1-Basic CVP problem Problem 2 - Intermed iate CVP Problem . Problem 3- Advanced CPV Problem .Problem 4- Mixed Cost problem Assignment Objectives Differentiate between the available costing methods. Deliverables When you have finished,rename the file using your first initial, last name, course number and assignment number (for example "JDoe_AC306 A2.xlsx"). Estimated time to complete: 4 hours Assignment File(s) Merge & Cantu Formatting s lable B I Paste fxProblem 2 X A6 N M L G B C B 1 Enter titles, accounts and comments in the green cells 2 Enter Numbers in the blue cells Enter your Calculations in the yellow cells 3 Cost Volume Profit Unit 2 6 Problem 21 Jefff Fargo owns Fargo Quick Lube and Oil. Jeff wants to know what his monthly break even sales are and what is Margin of Safety Ratio is. On average Fargo's Quick Lube performs 7 A Variable costs were 60% of sales 1 Calculate the contribution margin 9 2 Calculate the contribution margin ratio 10 units and in sales $ 3 Calculate the break even 11 4 Prepare a CVP Income Statement 12 5 Calculate the margin of safety 13 6 Comment on Bender's profitablity given the information that you have calculated 14 15 Break Even in Units 16 Per Unit 1 17 Fixed Costs 1 Units 18 Contribution Margin per unit Sales 19 2 Contribution Variable Costs Break even in Sales 20 Margin Ratio Contribution margin 21 Fixed Costs ales 22 Contribution Margin ratio 23 1/D neama Ctmat Problem 4 + Problem 3 Problem 2 Problem Resources 4 b Ready W 24 16 ... View Review Data Formulas Insert Page Layout Home General X SWrap Text A A Calibri (Body) Forr $ % Merge & Center Formatting as Ta A U B I Paste fx X A48 M K J H G B A CVP Income Stmt 24 Total 25 #Units 26 Sales $ 27 Variable Costs $ 28 Contribution Margin $ Fixed Costs $ 29 30 Net income $ 31 32 33 Margin of Safety % 100.00% Margin of Safety Ratio 34 Margin of Safety Acutal sales 22,500 22,500 Acutal Sales 5 35 22,500 Break Even sales 36 22,500 Margin of Safety $ 37 38 35 AC Comment on Fargo's operations and profitability 6 41 47 43 44 AF 47 Problem 4 Problem 3 Problem 2 Problem 1 Resources Ready 3 A 16 .. Excel Fie Edit View Insert Format Tools Data Window Help AC306 Unit 2 Assignment template Home Insert Page Layout Formulas Data Review View fx Trace Precedents ED Define Nama 15/ Auto Sum Trace Dependents Logical Text Date 8 Time upctioa Lookup & Referance UsedFinancial Math & Trig More Functions Creata from Selection Remove Arrows " Formul fx A1 Enter tit les, accounts and comments in the green cells A C D E F H L Enter tit les, accounts and comments in the green cells 1 Enter Numbers in the blue cells 2 Enter your Calculations in the yellow cells 3 Cost Volume Profit s Unit 2 6 Problem 2 Jefff Fargo owns Fargo Quick Lube and Oil, Jeff wants to know what his monthly break even sales are and what is Margin of Safety Ratio is. On average Far 7 A Variable costs were 60 % of sales 1 Calculate the contribution margin 2 Calculate the contribution margin ratio 8 10 3 Calculate the break even in units and in sales $ 11 4 Prepare a CVP Income Statement 5 Calculate the margin of safety 6 Comment on Bender's profitablity given the information that you have calculated 12 13 14 15 16 Break Ever 3 Per Unit 1 17 Fixed Costs .. Units 1 18 Contribution Margin per unit Sales 19 Contribution Variable Costs Break e 20 Margin Ratio Contribution margin Fixed Costs 21 CM/sales Contribution Margin ratio 22 23 Ain ineama Ct Problem 4 Problem 3 Problem 2 Problem 1 Resources Ready 16 iPA Excel File Edit View Insert Format Tools Data Window Help 20%D Tue 11:17 PM E AC306 Unit 2Assignment template Home Insert Page Laveut Formulas Data Review View fx Share n Trace Precadents E Define Name 15/ insert netion AutoSum Recently Financial Legical Used Trace Dependents Calculate Now Text Date 8 Time Lookup i Reference Math 8 Trig More Functions t Create from Selection Remove Arrows Show Error Calculation Calculate Sheet Options Formulas Checking V1 fr L hents in the green cells R U llow cells olume Profit k Lube and O Jeff wants to know what hmonthly break even sales are and what is Margin of Safety Ratio is. naverage Fargo's Quick Lube performs 450 total services an average cost of $50 each. Manthly Fixed costs are 11,200 sales ibution margin bution margin ratic even in units and in sales $ ne Statement of safety profitablity given the infor on that you have cakculated Per Unit Break Even in Units 3 nits 1 Fixed Costs # ales Contribution Margin per unit sts 2 Contribution gin Margin Ratio Break even in Sales CM/saies Fixed Costs Contribution Margin ratio Resources Problem 1 Problem 2 Problem 3 Problem 4 + 100% 16 ... MacBook Pro Unit 2 Assignment - Cost Volume Profit SubtAssigement ents Due Sunday by 11:59pm Points 80 Submitting a text entry box or a file upload Instructions In this assignment we will explore Cost-Volume-Profit (CVP) which examines how costs behave. Specifically, we will look at fixed and variable costs to see how changes in each affect profitability. Download the assignment template and complete the problems on each tab. ns In this assignment Problem 1-Basic CVP problem Problem 2 - Intermed iate CVP Problem . Problem 3- Advanced CPV Problem .Problem 4- Mixed Cost problem Assignment Objectives Differentiate between the available costing methods. Deliverables When you have finished,rename the file using your first initial, last name, course number and assignment number (for example "JDoe_AC306 A2.xlsx"). Estimated time to complete: 4 hours Assignment File(s) Merge & Cantu Formatting s lable B I Paste fxProblem 2 X A6 N M L G B C B 1 Enter titles, accounts and comments in the green cells 2 Enter Numbers in the blue cells Enter your Calculations in the yellow cells 3 Cost Volume Profit Unit 2 6 Problem 21 Jefff Fargo owns Fargo Quick Lube and Oil. Jeff wants to know what his monthly break even sales are and what is Margin of Safety Ratio is. On average Fargo's Quick Lube performs 7 A Variable costs were 60% of sales 1 Calculate the contribution margin 9 2 Calculate the contribution margin ratio 10 units and in sales $ 3 Calculate the break even 11 4 Prepare a CVP Income Statement 12 5 Calculate the margin of safety 13 6 Comment on Bender's profitablity given the information that you have calculated 14 15 Break Even in Units 16 Per Unit 1 17 Fixed Costs 1 Units 18 Contribution Margin per unit Sales 19 2 Contribution Variable Costs Break even in Sales 20 Margin Ratio Contribution margin 21 Fixed Costs ales 22 Contribution Margin ratio 23 1/D neama Ctmat Problem 4 + Problem 3 Problem 2 Problem Resources 4 b Ready W 24 16 ... View Review Data Formulas Insert Page Layout Home General X SWrap Text A A Calibri (Body) Forr $ % Merge & Center Formatting as Ta A U B I Paste fx X A48 M K J H G B A CVP Income Stmt 24 Total 25 #Units 26 Sales $ 27 Variable Costs $ 28 Contribution Margin $ Fixed Costs $ 29 30 Net income $ 31 32 33 Margin of Safety % 100.00% Margin of Safety Ratio 34 Margin of Safety Acutal sales 22,500 22,500 Acutal Sales 5 35 22,500 Break Even sales 36 22,500 Margin of Safety $ 37 38 35 AC Comment on Fargo's operations and profitability 6 41 47 43 44 AF 47 Problem 4 Problem 3 Problem 2 Problem 1 Resources Ready 3 A 16 .. Excel Fie Edit View Insert Format Tools Data Window Help AC306 Unit 2 Assignment template Home Insert Page Layout Formulas Data Review View fx Trace Precedents ED Define Nama 15/ Auto Sum Trace Dependents Logical Text Date 8 Time upctioa Lookup & Referance UsedFinancial Math & Trig More Functions Creata from Selection Remove Arrows " Formul fx A1 Enter tit les, accounts and comments in the green cells A C D E F H L Enter tit les, accounts and comments in the green cells 1 Enter Numbers in the blue cells 2 Enter your Calculations in the yellow cells 3 Cost Volume Profit s Unit 2 6 Problem 2 Jefff Fargo owns Fargo Quick Lube and Oil, Jeff wants to know what his monthly break even sales are and what is Margin of Safety Ratio is. On average Far 7 A Variable costs were 60 % of sales 1 Calculate the contribution margin 2 Calculate the contribution margin ratio 8 10 3 Calculate the break even in units and in sales $ 11 4 Prepare a CVP Income Statement 5 Calculate the margin of safety 6 Comment on Bender's profitablity given the information that you have calculated 12 13 14 15 16 Break Ever 3 Per Unit 1 17 Fixed Costs .. Units 1 18 Contribution Margin per unit Sales 19 Contribution Variable Costs Break e 20 Margin Ratio Contribution margin Fixed Costs 21 CM/sales Contribution Margin ratio 22 23 Ain ineama Ct Problem 4 Problem 3 Problem 2 Problem 1 Resources Ready 16 iPA Excel File Edit View Insert Format Tools Data Window Help 20%D Tue 11:17 PM E AC306 Unit 2Assignment template Home Insert Page Laveut Formulas Data Review View fx Share n Trace Precadents E Define Name 15/ insert netion AutoSum Recently Financial Legical Used Trace Dependents Calculate Now Text Date 8 Time Lookup i Reference Math 8 Trig More Functions t Create from Selection Remove Arrows Show Error Calculation Calculate Sheet Options Formulas Checking V1 fr L hents in the green cells R U llow cells olume Profit k Lube and O Jeff wants to know what hmonthly break even sales are and what is Margin of Safety Ratio is. naverage Fargo's Quick Lube performs 450 total services an average cost of $50 each. Manthly Fixed costs are 11,200 sales ibution margin bution margin ratic even in units and in sales $ ne Statement of safety profitablity given the infor on that you have cakculated Per Unit Break Even in Units 3 nits 1 Fixed Costs # ales Contribution Margin per unit sts 2 Contribution gin Margin Ratio Break even in Sales CM/saies Fixed Costs Contribution Margin ratio Resources Problem 1 Problem 2 Problem 3 Problem 4 + 100% 16 ... MacBook Pro