Cullumber Company has the following information available for September 2020. Unit selling price of video game consoles $490 Unit variable costs $294 Total fixed costs $92,120 Units sold 600 Compute the unit contribution margin. Unit contribution margin enter the unit contribution margin Prepare a CVP income statement that shows both total and per unit amounts. CULLUMBER COMPANY CVP Income Statement For the Month Ended September 30, 2020 Total Per Unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a dollar amount $enter a dollar amount select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a dollar amount enter a dollar amount select a summarizing line for the first part Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a total amount for the first part $enter a total amount per unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a dollar amount select a closing name for this statement Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a total net income or loss amount Compute Cullumber’ break-even point in units. Break-even point in units enter Break-even point in units units Prepare a CVP income statement for the break-even point that shows both total and per unit amounts. CULLUMBER COMPANY CVP Income Statement For the Month Ended September 30, 2020 Total Per Unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a dollar amount $enter a dollar amount select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a dollar amount enter a dollar amount select a summarizing line for the first part Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a total amount for the first part $enter a total amount per unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a dollar amount select a closing name for this statement Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a total net income or loss amount

Cullumber Company has the following information available for September 2020. Unit selling price of video game consoles $490 Unit variable costs $294 Total fixed costs $92,120 Units sold 600 Compute the unit contribution margin. Unit contribution margin enter the unit contribution margin Prepare a CVP income statement that shows both total and per unit amounts. CULLUMBER COMPANY CVP Income Statement For the Month Ended September 30, 2020 Total Per Unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a dollar amount $enter a dollar amount select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a dollar amount enter a dollar amount select a summarizing line for the first part Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a total amount for the first part $enter a total amount per unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a dollar amount select a closing name for this statement Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a total net income or loss amount Compute Cullumber’ break-even point in units. Break-even point in units enter Break-even point in units units Prepare a CVP income statement for the break-even point that shows both total and per unit amounts. CULLUMBER COMPANY CVP Income Statement For the Month Ended September 30, 2020 Total Per Unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a dollar amount $enter a dollar amount select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a dollar amount enter a dollar amount select a summarizing line for the first part Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a total amount for the first part $enter a total amount per unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a dollar amount select a closing name for this statement Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a total net income or loss amount

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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Question

Cullumber Company has the following information available for September 2020.

Unit selling price of video game consoles		$490
Unit variable costs		$294
Total fixed costs		$92,120
Units sold		600

Compute the unit contribution margin.

Unit contribution margin

enter the unit contribution margin

Prepare a CVP income statement that shows both total and per unit amounts.

CULLUMBER COMPANY CVP Income Statement For the Month Ended September 30, 2020
	Total	Per Unit
select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs	$enter a dollar amount	$enter a dollar amount
select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs	enter a dollar amount	enter a dollar amount
select a summarizing line for the first part Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs	enter a total amount for the first part	$enter a total amount per unit
select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs	enter a dollar amount
select a closing name for this statement Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs	$enter a total net income or loss amount

Compute Cullumber’ break-even point in units.

Break-even point in units

enter Break-even point in units

units

Prepare a CVP income statement for the break-even point that shows both total and per unit amounts.

CULLUMBER COMPANY CVP Income Statement For the Month Ended September 30, 2020
	Total	Per Unit
select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs	$enter a dollar amount	$enter a dollar amount
select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs	enter a dollar amount	enter a dollar amount
select a summarizing line for the first part Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs	enter a total amount for the first part	$enter a total amount per unit
select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs	enter a dollar amount
select a closing name for this statement Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs	$enter a total net income or loss amount

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