Provide solution this financial accounting question Bert Company budgets sales of $1,300,000, fixedcosts of $52,700, and variable costs of $234,000.a. What is the contribution margin ratio for BertCompany?b. If the contribution margin ratio for ErnieCompany is 70%, sales were $576,000, and fixedcosts were $314,500, what was the income fromoperations?

Step 1: Define Contribution MarginThe remaining money accessible for fixed outlays after spending…

Answered: Bert Company budgets sales of…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter7: Variable Costing For Management analysis

Section: Chapter Questions

Problem 4BE

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General Accounting
Colton Dry Cleaners has determined the following about its costs: Total variable expenses are $42,000, total fixed expenses are $30,000, and the sales revenue needed to break even is $50,000. Determine the company’s current 1) sales revenue and 2) operating income. (Hint: First, find the contribution margin ratio; then prepare the contribution margin income statement.)
The controller of Pelly Corporation prepared the following projected income statement: Sales - $95,000 Total variable cost $68,400 Contribution margin - $26,600 Total fixed cost - $14,000 Operating Income - $12,600 A) Calculate the contribution margin ratio. B) Calculate the variable cost ratio. C) Calculate the break-even sales revenue for Pelly.
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