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Miller Company's contribution format income statement for the most recent month is shown below: Total $ 266,000 152,000 Per Unit $7.00 4.00 $ 3.00 Sales (38,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Required: (Consider each case independently): 114,000 45,000 $ 69,000 1. What is the revised net operating income if unit sales increase by 14%? 2. What is the revised net operating income if the selling price decreases by $1.30 per unit and the number of units sold increases by 16%? 3. What is the revised net operating income if the selling price increases by $1.30 per unit, fixed expenses increase by $9,000, and the number of units sold decreases by 5%? 4. What is the revised net operating income if the selling price per unit increases by 10%, variable expenses increase by 30 cents per unit, and the number of units sold decreases by 5%? Answer is complete but not entirely correct. S 130,014 S 76,682 X $ 91,190 x S 75,858 1. Net operating income 2. Net operating income 3. Net operating income 4. Net operating income

Miller Company's contribution format income statement for the most recent month is shown below: Total $ 266,000 152,000 Per Unit $7.00 4.00 $ 3.00 Sales (38,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Required: (Consider each case independently): 114,000 45,000 $ 69,000 1. What is the revised net operating income if unit sales increase by 14%? 2. What is the revised net operating income if the selling price decreases by $1.30 per unit and the number of units sold increases by 16%? 3. What is the revised net operating income if the selling price increases by $1.30 per unit, fixed expenses increase by $9,000, and the number of units sold decreases by 5%? 4. What is the revised net operating income if the selling price per unit increases by 10%, variable expenses increase by 30 cents per unit, and the number of units sold decreases by 5%? Answer is complete but not entirely correct. S 130,014 S 76,682 X $ 91,190 x S 75,858 1. Net operating income 2. Net operating income 3. Net operating income 4. Net operating income

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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Miller Company's contribution format income statement for the most recent month is shown below: Per Unit $7.00 4.00 $ 3.00 Sales (38,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Required: (Consider each case independently): Total $ 266,000 152,000 114,000 45,000 $ 69,000 1. What is the revised net operating income if unit sales increase by 14%? 2. What is the revised net operating income if the selling price decreases by $1.30 per unit and the number of units sold increases by 16%? 3. What is the revised net operating income if the selling price increases by $1.30 per unit, fixed expenses increase by $9,000, and the number of units sold decreases by 5%? 4. What is the revised net operating income if the selling price per unit increases by 10%, variable expenses increase by 30 cents per unit, and the number of units sold decreases by 5%? 1. Net operating income 2. Net operating income 3. Net operating income 4. Net operating income Answer is complete but not entirely correct. S 130,014 x $ 76,682 x $ 91,190 x $ 75,858
Transcribed Image Text:Miller Company's contribution format income statement for the most recent month is shown below: Per Unit $7.00 4.00 $ 3.00 Sales (38,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Required: (Consider each case independently): Total $ 266,000 152,000 114,000 45,000 $ 69,000 1. What is the revised net operating income if unit sales increase by 14%? 2. What is the revised net operating income if the selling price decreases by $1.30 per unit and the number of units sold increases by 16%? 3. What is the revised net operating income if the selling price increases by $1.30 per unit, fixed expenses increase by $9,000, and the number of units sold decreases by 5%? 4. What is the revised net operating income if the selling price per unit increases by 10%, variable expenses increase by 30 cents per unit, and the number of units sold decreases by 5%? 1. Net operating income 2. Net operating income 3. Net operating income 4. Net operating income Answer is complete but not entirely correct. S 130,014 x $ 76,682 x $ 91,190 x $ 75,858
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