chapter 7 - Q48Please check my answers **Projected Income Statement for Medina Company**Medina Company produces a single product. The projected income statement for the year is as follows:- **Sales (68,000 units @ $19.00)**: $1,292,000- **Total Variable Cost**: $852,720- **Contribution Margin**: $439,280- **Total Fixed Cost**: $426,360- **Operating Income**: $12,920**Required Calculations:**1. **Compute the Break-Even Sales Dollars:** - Calculated Break-Even Sales Dollars: **$1,254,000**2. **Compute the Margin of Safety in Sales Dollars:** - Margin of Safety: **$2,000**3. **Compute the Degree of Operating Leverage:** - Degree of Operating Leverage: **34**4. **Compute the New Operating Income if Sales are 20% Higher than Expected:** - New Operating Income: **$100,776**

Break even point (BEP): Breakeven is the point where total expenses are equal to total revenue. at…

Medina Company produces a single product. The projected income statement for the Sales (68,000 units @ $19.00) $1,292,000 Total variable cost 852,720 Contribution margin $ 439,280 Total fixed cost 426,360 Operating income $ 12,920 Required: 1. Compute the break-even sales dollars. 1,254,000 2. Compute the margin of safety in sales dollars. 2,000 3. Compute the degree of operating leverage. 34 4. Compute the new operating income if sales are 20% higher than expected. 100,776

Medina Company produces a single product. The projected income statement for the Sales (68,000 units @ $19.00) $1,292,000 Total variable cost 852,720 Contribution margin $ 439,280 Total fixed cost 426,360 Operating income $ 12,920 Required: 1. Compute the break-even sales dollars. 1,254,000 2. Compute the margin of safety in sales dollars. 2,000 3. Compute the degree of operating leverage. 34 4. Compute the new operating income if sales are 20% higher than expected. 100,776

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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* CengageNOWv2 | Online teachin X b Home | bartleby x + A v2.cengagenow.com/iln/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false * D 9 : M Gmail O YouTube Maps Blackboard HW #9 - Chpt 21 O eBook Show Me How E Print Item 1. TMM.21.01 Contribution Margin and Contribution Margin Ratio For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): 2. TMM.21.02 Sales $14,100 3. TMM.21.03 Food and packaging $5,994 Рayroll 3,600 4. TMM.21.04 Occupancy (rent, depreciation, etc.) 1,986 5. EX.21,01 General, selling, and administrative expenses 2,100 $13,680 6. EX.21.02 Income from operations $420 7. EX.21.03 Assume that the variable costs consist of food and packaging; payroll; and 40% of the general, selling, and administrative expenses. 8. EX.21.06.ALGO a. What is Wicker Company's contribution margin? Round to the nearest million. (Give answer in millions of dollars.) million 9. EX.21.09.ALGO b. What is Wicker…