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Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below: Claimjumper $ 120,000 37,000 Makeover Total $ 60,000 8,000 $ 180,000 Sales Variable expenses 45,000 Contribution margin $ 83,000 $ 52,000 135,000 Fixed expenses 83,475 Net operating income $ 51,525 Required: 1. What is the overall contribution margin (CM) ratio for the company? 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products.

Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below: Claimjumper $ 120,000 37,000 Makeover Total $ 60,000 8,000 $ 180,000 Sales Variable expenses 45,000 Contribution margin $ 83,000 $ 52,000 135,000 Fixed expenses 83,475 Net operating income $ 51,525 Required: 1. What is the overall contribution margin (CM) ratio for the company? 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products.

FINANCIAL ACCOUNTING
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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board X 9 Question 5 × Solved: Luc x b Success C X O 1 Bb Week 3: 1/2 X Bb 1 PDF to Wor x ducation.com/ext/map/index.html?_con=con&external_browser=D0&launchUrl=https%253A%252F%252Fmybb.gvsu.edu%252Fwebapps%252Fportal mework Problems i Saved Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below: Claimjumper $ 120,000 37,000 Makeover Total $ 60,000 8,000 $ 52,000 $ 180,000 45,000 Sales Variable expenses Contribution margin $ 83,000 135,000 Fixed expenses 83,475 Net operating income $ 51,525 Required: 1. What is the overall contribution margin (CM) ratio for the company? 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Lucido Products Contribution Income Statement Claimjumper Makeover Total Net operating income (loss) < Required 2 Required 3 > < Prev 5 of 10 Next >
Transcribed Image Text:board X 9 Question 5 × Solved: Luc x b Success C X O 1 Bb Week 3: 1/2 X Bb 1 PDF to Wor x ducation.com/ext/map/index.html?_con=con&external_browser=D0&launchUrl=https%253A%252F%252Fmybb.gvsu.edu%252Fwebapps%252Fportal mework Problems i Saved Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below: Claimjumper $ 120,000 37,000 Makeover Total $ 60,000 8,000 $ 52,000 $ 180,000 45,000 Sales Variable expenses Contribution margin $ 83,000 135,000 Fixed expenses 83,475 Net operating income $ 51,525 Required: 1. What is the overall contribution margin (CM) ratio for the company? 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Lucido Products Contribution Income Statement Claimjumper Makeover Total Net operating income (loss) < Required 2 Required 3 > < Prev 5 of 10 Next >
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