218 Chapter 5 I Exercises Connect Mc Graw Hill Education JACCOUNTING All applicable exercises are available with McGraw-Hill's Connect® Accounting. EXERCISE 5-1 Preparing a Contribution Format Income Statement [LO5-1] Whirly Corporation's most recent income statement is shown below: Total Per Unit $350,000 200,000 $35.00 Sales (10,000 units) . . . . .. Variable expenses 20.00 $15.00 bet Contribution margin . . . .. Fixed expenses 150,000 135,000 Net operating income . .. $ 15,000 Required: Prepare a new contribution format income statement under each of the following cond co- sider each case independently): The sales volume increases by 100 units. The sales volume decreases by 100 units. The sales volume is 9,000 units. 1. 2. 3.

218 Chapter 5 I Exercises Connect Mc Graw Hill Education JACCOUNTING All applicable exercises are available with McGraw-Hill's Connect® Accounting. EXERCISE 5-1 Preparing a Contribution Format Income Statement [LO5-1] Whirly Corporation's most recent income statement is shown below: Total Per Unit $350,000 200,000 $35.00 Sales (10,000 units) . . . . .. Variable expenses 20.00 $15.00 bet Contribution margin . . . .. Fixed expenses 150,000 135,000 Net operating income . .. $ 15,000 Required: Prepare a new contribution format income statement under each of the following cond co- sider each case independently): The sales volume increases by 100 units. The sales volume decreases by 100 units. The sales volume is 9,000 units. 1. 2. 3.

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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