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4. An unfavorable change in business is remotely possible; in this case, production and sales volume for the year could fall to 12,000 units. How much income (or loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus sign.) PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 15.000 Sales (in units) Contribution margin (per unit) Contribution margin 12.000 (Fixed costs Operating income (loss)

4. An unfavorable change in business is remotely possible; in this case, production and sales volume for the year could fall to 12,000 units. How much income (or loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus sign.) PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 15.000 Sales (in units) Contribution margin (per unit) Contribution margin 12.000 (Fixed costs Operating income (loss)

FINANCIAL ACCOUNTING
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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LIne tollowing intormation applies to the questions dispiayed below. Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended Decenber 31, 2019 Sales $3,150,000 Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-1ine) Utilities ($60, 000 is variable) Plant managenent salarles Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertalnment expense $ 915,000 240, 000 45,00e 315,000 210,000 210,000 1,935,000 1,215,000 75, 000 90,000 235,000 400,000 125, e00 230, 000 85,000 440,000 Incose from operations 375,000 Problem 23-1A Part 4 < Prev of 8 3. Next > ete to search 474 Celoras 10 FIS 3 R T. Y U F G V B Alt Alt Ctrl 51 IN CO 10
Transcribed Image Text:LIne tollowing intormation applies to the questions dispiayed below. Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended Decenber 31, 2019 Sales $3,150,000 Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-1ine) Utilities ($60, 000 is variable) Plant managenent salarles Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertalnment expense $ 915,000 240, 000 45,00e 315,000 210,000 210,000 1,935,000 1,215,000 75, 000 90,000 235,000 400,000 125, e00 230, 000 85,000 440,000 Incose from operations 375,000 Problem 23-1A Part 4 < Prev of 8 3. Next > ete to search 474 Celoras 10 FIS 3 R T. Y U F G V B Alt Alt Ctrl 51 IN CO 10
pard.com%25 vebapps%252 ework Required O Saved Help Save & Che Required information 4. An unfavorable change in business is remotely possible; in this case, production and sales volume for the year could fall to 12,000 units. How much income (or loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus sign.) PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (In units) 15,000 12.000 Contribution margin (per unit) Contribution margin Fixed costs Operating income (loss) < Prev Noxt> here to search Delinhas AY. 5. 6. 7 3 E T G K D M C V Alt Cirl Ho Alt T. LL
Transcribed Image Text:pard.com%25 vebapps%252 ework Required O Saved Help Save & Che Required information 4. An unfavorable change in business is remotely possible; in this case, production and sales volume for the year could fall to 12,000 units. How much income (or loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus sign.) PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (In units) 15,000 12.000 Contribution margin (per unit) Contribution margin Fixed costs Operating income (loss) < Prev Noxt> here to search Delinhas AY. 5. 6. 7 3 E T G K D M C V Alt Cirl Ho Alt T. LL
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