can you help fill in all the yellow cells В I Uv田av A vAlignmentPasteNumbe23fxABC.DEMVP, Inc.Income StatementFor the Year Ended December 31, 2021Sales$ 375,000Cost of Goods Sold:Direct Materials (variable)100,000• Direct Labor (variable)19,600Manufacturing Overhead ($40,000 is fixed)89,5003Cost of Goods Sold209,100-4Gross Profit165,900 D8-D1315Operating Expenses:16Sales Commissions (variable)12,50017Shipping (variable)2,500Advertising (fixed)Billing (of which $10,000 is fixed)Sales and Administrative Salaries (fixed)189,8001910,2502099,90021Total Operating ExpensesOperating Income (Loss)134,9502230,950 =D14-D212324 Additional information:25Sales Price per unit:$15.0026Plant capacity (relevant range) is 60,000 units per year27All variable expenses in the company vary in terms of units soldThere was no change in inventory levels between the beginning and end of the year282930 B. Using the information above, calculate the missing amounts below:31a. Units of product MVP sold in 2021:n/a32Variable cost per unit for the following mixed costs:33b. Variable Manufacturing Overhead per unit:n/a34c. Variable Billing per unit:n/a35InstructionsA M5 Project+ReadyPage 1 of 157 wordsVWlal Tiappens to The brean-even POINI IIT UIMSSamanth...ivio.xls...022.docxWhich of the following statements is true if thevariable cost per unit and total fixed cost remaiWhen total fixed costs decrease the breakevenSolivioScreen Shot2022-02...7.26 PMSamantha_OTranscript.pdfМ13А1TMO 807 c. Variable Billing per unit:n/a6. Using MVP's 2021 income statement above, prepare a contribution margin income statement below (all amounts should be a formula/link to the information provided above):8738TotalAmountTotal Unitsn/an/aPer Unit39Salesn/a40Variable Costs:41Direct Materialsn/an/an/a42Direct Laborn/a43Variable Manufacturing Overheadn/an/a44Sales Commissionsn/an/aShippingVariable Billing45n/an/a46n/an/a47Total Variable Costsn/an/a48Contribution Marginn/an/a49Fixed Costs:50Fixed Manufacturing Overheadn/a51Advertisingn/a52Sales and Admin. Salariesn/a53Fixed Billing10,00054Total Fixed Costsn/an/a55Net Operating Income (Loss)Hint: Operating Income (Loss) must equal the ori5657Calculate MVP's current bre akeven point in both units and dollars:58Units:n/a59Dollars (use the Contribution Margin Ratio to calculate):n/a6061Redo MVP's Contribution Margin Income Statement using the Vice President of Sales (VP) suggestions and projected increase in sales volume below (all amounts should be a formula/link):62Reduce selling price by:5.00%63Increase advertising costs by: $4,90064Projected sales volume increase:25.00%InstructionsA M5 ProjectReadyPage 1 of 1四VVInal T appeis LU UIC UIean VOn poi R HE U LD Oal HAGU COSE Creasosr57 wordsMatn 50chedul...022.docxSamanth...ivio.xlsWhich of the following statements is true if the sales price per unit decreases whilevariable cost per unit and total fixed cost remain constant?When total fixed.costs decrease the breakeven point?Screen Shot2022-02.7.26 PMSamantha OEnglish Quiz2021-02 1.55 PMTranscript.pdtM13A1IMG

Income statement: Income statement as a part of financial statement that presents the organization's…

A C. D MVP, Inc. Income Statement For the Year Ended December 31, 2021 Sales $ 375,000 Cost of Goods Sold: Direct Materials (variable) Direct Labor (variable) 100,000 19,600 Manufacturing Overhead ($40,000 is fixed) 89,500 Cost of Goods Sold 209,100 165,900 D8-D13 Gross Profit Operating Expenses: Sales Commissions (variable) 12,500 Shipping (variable) 2,500 Advertising (fixed) Billing (of which $10,000 is fixed) 9,800 10,250 Sales and Administrative Salaries (fixed) 99,900 Total Operating Expenses Operating Income (Loss) 134,950 $ 30,950 =D14-D21 -Additional information: Sales Price per unit: $15.00 Plant capacity (relevant range) is 60,000 units per year All variable expenses in the company vary in terms of units sold There was no change in inventory letels between the beginning and end of the year 80 B. Using the information above, calculate the missing amounts below: 31 a. Units of product MVP sold in 2021: n/a 32 Variable cost per unit for the following mixed costs: 33 b. Variable Manufacturing Overhead per unit: n/a 34 c. Variable Billing per unit: n/a 35 Instructions A M5 Project Ready Page 1 of 1 57 words Samanth...ivio.xis 23 do

A C. D MVP, Inc. Income Statement For the Year Ended December 31, 2021 Sales $ 375,000 Cost of Goods Sold: Direct Materials (variable) Direct Labor (variable) 100,000 19,600 Manufacturing Overhead ($40,000 is fixed) 89,500 Cost of Goods Sold 209,100 165,900 D8-D13 Gross Profit Operating Expenses: Sales Commissions (variable) 12,500 Shipping (variable) 2,500 Advertising (fixed) Billing (of which $10,000 is fixed) 9,800 10,250 Sales and Administrative Salaries (fixed) 99,900 Total Operating Expenses Operating Income (Loss) 134,950 $ 30,950 =D14-D21 -Additional information: Sales Price per unit: $15.00 Plant capacity (relevant range) is 60,000 units per year All variable expenses in the company vary in terms of units sold There was no change in inventory letels between the beginning and end of the year 80 B. Using the information above, calculate the missing amounts below: 31 a. Units of product MVP sold in 2021: n/a 32 Variable cost per unit for the following mixed costs: 33 b. Variable Manufacturing Overhead per unit: n/a 34 c. Variable Billing per unit: n/a 35 Instructions A M5 Project Ready Page 1 of 1 57 words Samanth...ivio.xis 23 do

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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