Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

URGENT Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales margin ratios for the two products follow: Sales CM ratio

URGENT
Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales margin ratios for the two products follow: Sales CM ratio Fixed expenses total $569,500 per month. Flight Dynamic $ 660,000 63% Product Required 1 Sure Shot $ 340,000 Required 2 Required 3 74% Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $53,000 a month, by how much would monthly net operating income increase? Total $ 1,000,000 Complete this question by entering your answers in the tabs below. Maut
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $53,000 a month, by how much would monthly net operating income increase? Complete this question by entering your answers in the tabs below. What is the company's break-even point in dollar sales based on the current sales mix? Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount. Prepare a contribution format income statement for the company as a whole. Note: Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34 ). Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales margin ratios for the two products follow: Fixed expenses total $569,500 per month. Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $53,000 a month, by how much would monthly net operating income increase? Complete this question by entering your answers in the tabs below. 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $53,000 a month, by how much would monthly net operating income increase? Complete this question by entering your answers in the tabs below. If sales increase by $53,000 a month, by how much would monthly net operating income increase? Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions