Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then compute the missing items.) Required: a. Assume that only one product is being sold in each of the following four case situations: Unit sold Sales Variable expenses Fixed expenses Operating income (loss) Contribution margin per unit $ Sales Variable expenses Fixed expenses Operating income (loss) Average contribution margin (percentage) Case #1 15,900 190,800 $ 127,200 53,000 $ $ $ $ Case #2 106,000 33,920 7,300 20% 8,480 $ 10 $ Case #1 506,000 $ Case #3 b. Assume that more than one product is being sold in each of the following four case situations: (Enter "Contribution margin ratio" in percent. Round your final answers to the nearest whole dollar amount.) 10,600 Case #2 406,000 263,900 101,500 74,200 Case #4 6,360 $ 318,000 106,000 12,720 $ (10,600) 13 $ Case #3 Case #4 $ 606,000 424,200 131,800 21,800 $ (5,000) 60%

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Subject :- Accounting 

 

Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find
the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then
compute the missing items.)
Required:
a. Assume that only one product is being sold in each of the following four case situations:
Unit sold
Sales
Variable expenses
Fixed expenses
Operating income (loss)
Contribution margin per unit
Sales
Variable expenses
Fixed expenses
$
Operating income (loss)
Average contribution margin (percentage)
Case #1
15,900
190,800 $
127,200
53,000
$
$
$
$
Case #2
Case #1
106.000
33,920
7,300
20%
8,480 $
10 $
Case #3
Case #2
506,000 $ 406,000
263,900
101,500
10,600
b. Assume that more than one product is being sold in each of the following four case situations: (Enter "Contribution margin ratio" in
percent. Round your final answers to the nearest whole dollar amount.)
74,200
$
12,720 $
13
$
Case #4
Case #3
6,360
318,000
131,800
21,800
60%
106,000
(10,600)
$
Case #4
606,000
424,200
$ (5,000)
Transcribed Image Text:Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then compute the missing items.) Required: a. Assume that only one product is being sold in each of the following four case situations: Unit sold Sales Variable expenses Fixed expenses Operating income (loss) Contribution margin per unit Sales Variable expenses Fixed expenses $ Operating income (loss) Average contribution margin (percentage) Case #1 15,900 190,800 $ 127,200 53,000 $ $ $ $ Case #2 Case #1 106.000 33,920 7,300 20% 8,480 $ 10 $ Case #3 Case #2 506,000 $ 406,000 263,900 101,500 10,600 b. Assume that more than one product is being sold in each of the following four case situations: (Enter "Contribution margin ratio" in percent. Round your final answers to the nearest whole dollar amount.) 74,200 $ 12,720 $ 13 $ Case #4 Case #3 6,360 318,000 131,800 21,800 60% 106,000 (10,600) $ Case #4 606,000 424,200 $ (5,000)
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