Giannini Incorporated, which produces and sells a single product, has provided thefollowing contribution format income statement for March:Sales (5,000units)Variable expensesContribution$305,000150,000155,000104,400$ 50,600marginFixed expensesNet operatingincomeRequired:Redo the company's contribution format income statement assuming that thecompany sells 5,200 units.

Income statement is a financial statement that shows profitability, total revenue and total…

Answered: Giannini Incorporated, which produces…

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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[The following information applies to the questions displayed below.] Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales $ 15,000 Variable expenses 9,000 Contribution margin 6,000 Fixed expenses 3,120 Net operating income $ 2,880 15. Assume that the amounts of the company’s total variable expenses and total fixed expenses were reversed. In other words, assume that the total variable expenses are $3,120 and the total fixed expenses are $9,000. Using the degree of operating leverage, what is the estimated percent increase in net operating income of a 5% increase in unit sales? (Round your intermediate calculations and final answer to 2 decimal places.)
Wight Corporation has provided its contribution format income statement for June. The company produces and sells a single product. Sales (4,400 units) $ 162,800 Variable expenses 79,200 Contribution margin 83,600 Fixed expenses 44,800 Net operating income $ 38,800 If the company sells 4,500 units, its total contribution margin should be closest to: (Do not round intermediate calculations.) Multiple Choice $39,682 $85,500 $83,600 $87,300
Giannini Incorporated, which produces and sells a single product, has provided the following contribution format income statement for March: Sales (5,000 units) Variable expenses Contribution margin Fixed expenses $ 330,000 175,000 155,000 104,900 Net operating income Required: $ 50,100 Redo the company's contribution format income statement assuming that the company sells 5,200 units. (Do not round intermediate calculations.) 0 $ 0
Giannini Incorporated, which produces and sells a single product, has provided the following contribution format income statement for March: Sales (5,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Required: Redo the company's contribution format income statement assuming that the company sells 5,200 units. (Do not round intermediate calculations.) Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 315,000 150,000 165,000 106, 200 $ 58,800 $ 0 0 4
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McDaniel Inc., a company that produces and sells a single product, has provided its contribution format income statement for January. Sales (4,200 units) Variable expenses Contribution margin H Fixed expenses Net operating income $54,600 $59,800 $69,400 $ O $13,362 $ 155,400 100,800 If the company sells 4,600 units, its total contribution margin should be closest to: 54,600 42,400 12,200
Giannini Inc., which produces and sells a single product, has provided the following contribution format income statement for March: Sales (5,000 units) $ 300,000 Variable expenses 175,000 Contribution margin 125,000 Fixed expenses 104,300 Net operating income $ 20,700 Required: Redo the company's contribution format income statement assuming that the company sells 5,200 units. (Do not round intermediate calculations.)
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Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales $ 85,000 Variable expenses 59,500 Contribution margin 25,500 Fixed expenses 20,400 Net operating income $ 5,100 14. Assume that the amounts of the company’s total variable expenses and total fixed expenses were reversed. In other words, assume that the total variable expenses are $20,400 and the total fixed expenses are $59,500. Under this scenario and assuming that total sales remain the same, what is the degree of operating leverage? (Round your answer to 2 decimal places.)
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Giannini Incorporated, which produces and sells a single product, has provided the following contribution format income statement for March: Sales (5,000 units) Variable expenses Contribution margin Fixed expenses Net operating income $ 330,000 150,000 180,000 106,500 $ 73,500 Required: Redo the company's contribution format income statement assuming that the company sells 5,200 units. (Do not round intermediate calculations.)
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales $ 15,000 Variable expenses 9,000 Contribution margin 6,000 Fixed expenses 3,120 Net operating income $ 2,880 14. Assume that the amounts of the company’s total variable expenses and total fixed expenses were reversed. In other words, assume that the total variable expenses are $3,120 and the total fixed expenses are $9,000. Under this scenario and assuming that total sales remain the same, what is the degree of operating leverage? (Round your answer to 2 decimal places.)

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