Fill in the missing amounts in each of the following four case situations. Treat each case independently. (Hint: One way to find the missing amounts would be to prepare a contribution margin income statement for each case, enter the known data, and then compute the missing items.) a. Assume that only one product is being sold in each of the following four case situations: (Negative amounts should be indicated by a minus sign. Enter your contribution margin answers as per unit dollar values. Enter your answers rounded to the nearest whole number.) Case Units Sold 1 2 3 4 Sales 16,000 $ 224,000 117,500 9,700 336,000 Variable Expenses $6 per unit $22 per unit 58,200 $36 per unit Contribution Fixed Margin Expenses 40% 16 $ 49,000 28,500 95,000 Net Income (Loss) 14,000 (11,000)
Fill in the missing amounts in each of the following four case situations. Treat each case independently. (Hint: One way to find the missing amounts would be to prepare a contribution margin income statement for each case, enter the known data, and then compute the missing items.) a. Assume that only one product is being sold in each of the following four case situations: (Negative amounts should be indicated by a minus sign. Enter your contribution margin answers as per unit dollar values. Enter your answers rounded to the nearest whole number.) Case Units Sold 1 2 3 4 Sales 16,000 $ 224,000 117,500 9,700 336,000 Variable Expenses $6 per unit $22 per unit 58,200 $36 per unit Contribution Fixed Margin Expenses 40% 16 $ 49,000 28,500 95,000 Net Income (Loss) 14,000 (11,000)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Fill in the missing amounts in each of the following four case situations. Treat each case independently.
(Hint: One way to find the missing amounts would be to prepare a contribution margin income statement
for each case, enter the known data, and then compute the missing items.)
a. Assume that only one product is being sold in each of the following four case situations: (Negative
amounts should be indicated by a minus sign. Enter your contribution margin answers as per unit
dollar values. Enter your answers rounded to the nearest whole number.)
Case Units Sold
1
2
3
4
Sales
16,000 $ 224,000
117,500
9,700
336,000
Variable
Expenses
$6 per unit
$22 per unit
58,200
$36 per unit
Contribution
Margin
40%
16
Fixed
Expenses
$ 49,000
28,500
95,000
Net Income
(Loss)
14,000
(11,000)
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