Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

vaughn Sports sells volleyball kits that It purchases from a sports equipment distributor. The following static budget based on sales of 2,000 kits was prepared

image text in transcribed

vaughn Sports sells volleyball kits that It purchases from a sports equipment distributor. The following static budget based on sales of 2,000 kits was prepared for the year Fixed operating expenses account for 809% of total operating expenses at this level of sales. Sales Revenue Cost of goods sold (all variable 60,000 Gross margin Operating expenses Operatino income $100,200 40,280 35,170 Prepare a fled ble budget based on sales of 1,467, 2,570, and 3,840 units. (Round unit values to 2 decinal places e.g. 15.25 and ail other answers to 0 decimal places, e.g. 1525. If operating income is negative, enter amounts using a negative sign preceding the number e.g.-45 or parentheses eg, (45).) Unit 1,467 2,570 3,840 100,280s73.555.38s 128,859.80 192,537.60 LessVariable expenses Cost of goods sold 44,010.00 77,100 115,200 35,17 Operating expenses Total variable expenses Contribution margin Fixed expenses Operating income 29,545.38 51,759.807733760 2826.002.00,.3.0 750.0614.585.1135,696.32 28,136

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Global Financial Accounting And Reporting Principles And Analysis

Authors: Peter Walton, Walter Aerts

2nd Edition

1408017725, 978-1408017722

More Books

Students also viewed these Accounting questions

Question

What are the current trends in modeling?

Answered: 1 week ago

Question

Are the investments going to be supported by the stakeholders?

Answered: 1 week ago