Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recentmonth for the two games appears below.SalesVariable expensesContribution marginFixed expensesNet operating incomeClaimjumper$ 112,00034,600$77,400Makeover$ 56,0007,400$ 48,600Total$ 168,00042,000126,00086,400$ 39,600Required: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 forthe two products.Answer is complete but not entirely correct.Complete this question by entering your answers in the tabs below.Required 11 Required 21 Required 3Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of salesfor the two products. (Do not round intermediate calculations, Round your answers to the nearest dollar amount.)

Lets understand the basics.The break-even sales represent the sales where there is neither profit…

Answered: Lucido Products markets two computer…

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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Contribution Margin Review the contribution margin income statements for Cover-to-Cover Company and Biblio Files Company on their respective Income Statements. Complete the following table from the data provided on the income statements. Each company sold 83,800 units during the year. Cover-to-CoverCompany Biblio FilesCompany Contribution margin ratio (percent) Unit contribution margin Break-even sales (units) Break-even sales (dollars) Review the definitions of contribution margin ratio and unit contribution margin. Also review the formulas for break-even in terms of units sold and sales dollars. Income Statement - Cover-to-Cover Cover-to-Cover CompanyContribution Margin Income StatementFor the Year Ended December 31, 20Y8 Sales $419,000 Variable costs: Manufacturing expense $251,400 Selling expense 20,950 Administrative expense 62,850 (335,200) Contribution margin $83,800 Fixed costs: Manufacturing…
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Menlo Company distributes a single product. The company's sales and expenses for last month follow: Sales Variable expenses. Contribution margin Fixed expenses Net operating income Total $ 624,000 436,800 187,200 146,400 $ 40,800 Required: 1. What is the monthly break-even point in unit sales and in dollar sales? Req 1 2. Without resorting to computations, what is the total contribution margin at the break-even point? 3-a. How many units would have to be sold each month to attain a target profit of $61,200? Req 2 Per Unit 3-b. Verify your answer by preparing a contribution format income statement at the target sales level. 4. Refer to the original data. Compute the company's margin of safety in both dollar and percentage terms. 5. What is the company's CM ratio? If the company can sell more units thereby increasing sales by $64,000 per month and there is no change in fixed expenses, by how much would you expect monthly net operating income to increase? $ 40 28 $ 12 Complete this…
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Required information [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 Variable expenses Contribution margin Fixed expenses Net operating income $ 40,000 26,000 14,000 8,680 $5,320 9. What is the break-even point in dollar sales? Break-even point
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Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Limited Contribution Income Statement Product White Percentage of total sales % Fragrant % Loonzain % % % % % % $ 0 0% $ 0 0 % $ 0 0% Total % % % 0 0% $ 0
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Income Statements Segmented by TerritoryScript, Inc., has two product lines. The September income statements of each product line and the company are as follows: SCRIPT, INC.Product Line and Company Income StatementsFor Month of September Pens Pencils Total Sales $25,000 $30,000 $55,000 Less variable expenses (10,000) (12,000) (22,000) Contribution margin 15,000 18,000 33,000 Less direct fixed expenses (8,000) (6,000) (14,000) Product margin $7,000 $12,000 $19,000 Less common fixed expenses (6,000) Net income $13,000 Pens and pencils are sold in two territories, Florida and Alabama, as follows: Florida Alabama Pen sales $11,000 $14,000 Pencil sales 13,000 17,000 Total sales $24,000 $31,000 The preceding common fixed expenses are traceable to each territory as follows: Florida fixed expenses $2,000 Alabama fixed expenses 3,000 Home office administration fixed expenses 1,000 Total common fixed expenses $6,000 The…
Mcdale Incorporated produces and sells two products. Data concerning those products for the most recent month appear below. Product 149V Product Z500 Sales $ 14,000 Variable expenses $ 15,000 $ 3,300 $ 2,790 The fixed expenses of the entire company were $18,460. The break-even point for the entire company is closest to: Multiple Choice $23,367 $10,540 $24,550 $18,460

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