Check my work1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below.2. Assume that the company produces and sells 81,000 units during the year at a selling price of $8.23 per unit. Prepare a contributionformat income statement for the year.15Complete this question by entering your answers in the tabs below.polntsSkippedRequired 1Required 2eBookComplete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unitvariable cost and fixed cost to 2 decimal places.)HintPrintUnits Produced and SoldReferences51,00071,00091,000Total costs:Variable costs$117,300Fixed costs350,000Total costs$467,300 $$Cost per unit:Variable costFixed costTotal cost per unit$0.00 $0.00 $0.00

Variable cost per unit does not change with the changing level of units produced and sold i.e.…

1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 81,000 units during the year at a selling price of $8.23 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 51,000 71,000 91,000 Total costs: Variable costs 117,300 350,000 467,300 S Fixed costs Total costs Cost per unit: Variable cost Fixed cost Total cost per unit 0.00 $ 0.00 $ 0.00

1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 81,000 units during the year at a selling price of $8.23 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 51,000 71,000 91,000 Total costs: Variable costs 117,300 350,000 467,300 S Fixed costs Total costs Cost per unit: Variable cost Fixed cost Total cost per unit 0.00 $ 0.00 $ 0.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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I need answer of first three question I need answer of first three question please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Fancy Company reported a contribution margin of $10 per unit. The company’s fixed costs per period were $30,000. Sales were $48,000 for the 3,200 units sold during the period. The income tax rate is 25%. Required:a. What is current net income?b. What is the breakeven point (BEP) in units?c. If the income tax rate is increased to 30%, what is the BEP in dollars?d. If the number of units sold decreases to 3,100 units, what is the BEP in dollars?e. If the sales price is increased by $2, what is the BEP in units? Assume the variable costs, which consist of direct materials, direct labor, and variable overhead, are not changing as a result of increasing the sales price.
3) Prepare CVP income statements. Olsen Company has the following information available for September 2019. Unit selling price of video game consoles $ 400 Unit variable costs 2$ 275 Total fixed costs $52,000 Units sold 600 Instructions (a) Compute the contribution margin per unit. (b) Prepare a CVP income statement that shows both total and per unit amounts.
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Directions Below is information for Blue Company. Using this information, answer the following questions on the "Calculation" tab in the file. Show your work (how you got your answer) and format appropriately. Blue company has prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 to 1,500 units): Sales $ 20,000 Variable expenses 12,000 Contribution margin 8,000 NOTE: Use the amounts in the original fact pattern to the left as your basis for the questions below. Fixed expenses 6,000 Net operating income $ 2,000 Questions:…