Exercise 5-12 (Algo) Multiproduct Break-Even Analysis [LO5-9]Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contributionmargin ratios for the two products follow:ProductTotalSalesCM ratioFlight Dynamic$ 740,000Sure Shot$ 260,000$ 1,000,00063%78%?Fixed expenses total $580,500 per month.Required:1. Prepare a contribution format income statement for the company as a whole.2. What is the company's break-even point in dollar sales based on the current sales mix?3. If sales increase by $46,000 a month, by how much would you expect the monthly net operating income to increase?Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 3Prepare a contribution format income statement for the company as a whole. (Round your percentage answers to 2 decimal places(i.e. 0.1234 should be entered as 12.34).)Flight DynamicAmountSure Shot%Amount%Total CompanyAmount%< Required 1Required 2 >

Step 1:1) Contribution Format Income statement: Fight Dynamic Sure Shot Total Company…

Answered: Exercise 5-12 (Algo) Multiproduct…

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Brief Exercise 11-3 (Algo) Contribution margin income statement LO 11-3 Lite Packs Company (LPC) makes and sells ultra-light backpacks. During Year 1, LPC sold 1,600 backpacks for $51 each. Each backpack has a variable cost of $28 and the company had total fixed cost $5,400. Required: Prepare a contribution format income statement for Lite Packs Company. LITE PACKS COMPANY Income Statement Accounts payable $ 0 EA $ 0
Exercise 6-12 (Algo) Multiproduct Break-Even Analysis [LO6-9] Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Flight Dynamic Sales CM ratio $ 660,000 Sure Shot $340,000 68% 76% Total $1,000,000 ? Fixed expenses total $567,000 per month. Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $57,000 a month, by how much would you expect the monthly net operating income to increase?
Problem 1 Xpress Corp. operates a fast food restaurant in San Fernando. Meals cost an average of $36 for which Xpress incurs variable costs of $14.40. Total fixed costs are $29,160. Required: a) Determine break even in units (persons) and sales dollars using the contribution margin technique. b) If the expected revenue is $ 65,000, what is Xpress' margin of safety ratio? c) If Xpress wants to earn a target income of $20,000, calculate the number of meals necessary.
d
ces Exercise 2-17 (Algo) Break-Even and Target Profit Analysis [LO2-4, LO2-5, LO2-6] Outback Outfitters sells recreational equipment. One of the company's products, a small camp stove, sells for $120 per unit. Variable expenses are $84 per stove, and fixed expenses associated with the stove total $162,000 per month. Required: 1. What is the break-even point in unit sales and in dollar sales? 2. If the variable expenses per stove increase as a percentage of the selling price, will it result in a higher or a lower break-even point? (Assume that the fixed expenses remain unchanged.) 3. At present, the company is selling 15,000 stoves per month. The sales manager is convinced that a 10% reduction in the selling price would result in a 25% increase in monthly sales of stoves. Prepare two contribution format income statements, one under present operating conditions, and one as operations would appear after the proposed changes. 4. Refer to the data in Required 3. How many stoves would have…
Crazy Coconut LLC has two products: Jet Boats Ski Boats $8000 $22,000 $4800 $18,000 Sales price per unit Variable cost per unit Annual fixed costs are $280,000. What is the break even amount in units, assuming that Crazy Coconut sells five jet boats for every two ski boats sold? (Round any intermediate calculations to two decimal places, and your final answer to the nearest unit.) O 12 jet boats and 7 ski boats O 59 jet boats and 23 ski boats O 7 jet boats and 12 ski boats 23 jet boats and 59 ski boats
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Exercise 3-48 (Static) CVP With Income Taxes (LO 3-4) Gardendale Associates offers landscape consultations, where they provide design advice and plans to residential customers. A single consultation is priced at $750.00. The variable costs of a consultation total $330.00 consisting mostly of labor and supplies. Annual fixed costs are $102,900. Gardendale Associates is subject to an income tax rate of 24 percent. Required: a. What total revenue does Gardendale have to generate from selling consultations to break even? b. What total revenue does Gardendale have to generate from selling consultations to earn an annual operating profit of $106,400 after taxes? Break-even revenue Required revenue
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