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Universal Travel uses the contribution margin income statement internally. Universal's first quarter results are as follows: (Click the icon to view the income statement.) Universal's
Universal Travel uses the contribution margin income statement internally. Universal's first quarter results are as follows: (Click the icon to view the income statement.) Universal's relevant range is sales of between $105,000 and $670,000. Read the Requirement 1. Prepare contribution margin income statements at sales levels of $200,000 and $430,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $200,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses. Now prepare the contribution margin income statement at the $430,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.) Requirement 2. Compute breakeven sales in dollars. Begin by identifying the formula to compute the breakeven sales in dollars. 3+=Breakevensalesindollars Compute breakeven sales in dollars. The breakeven sales in dollars is
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