Miller Company's contribution format income statement for the most recent month is shown below:Per Unit$8.005.00$1.00Sales (39,000 units)Variable expensesContribution marginFixed expensesNet operating incomeRequired:(Consider each case Independently)Total$312,000195,000117,00041,000$76,0001. What is the revised net operating income if unit sales increase by 18%32. What is the revised net operating income if the selling price decreases by $110 per unit and the number of units sold increases by19%73. What is the revised net operating income if the selling price increases by $1.10 per unit, fixed expenses increase by $7,000, and thenumber of units sold decreases by 2%74. What is the revised net operating income if the selling price per unit increases by 10%, variable expenses increase by 40 cents perunit, and the number of units sold decreases by 10%?1. Net operating income2. Net operating income3. Net operating income4. Net operating income

Contribution margin: The difference between the sales and the variable costs is called contribution…

Answered: Miller Company's contribution format…

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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Sales (22,200 units) Variable expenses Contribution margin Fixed expenses Net operating income Total $ 199,800 119,880 79,920 46, 620 $ 33,300 Per Unit $9.00 5.40 $ 3.60 Required: (Consider each of the four requirements independently): 1. Assume the sales volume increases by 3,330 units: a. What is the revised net operating income? b. What is the percent increase in unit sales? c. Using the most recent month's degree of operating leverage, what is the percent increase in net operating income? 2. What is the revised net operating income if the selling price decreases by $1.10 per unit and the number of units sold increases by 23%? 3. What is the revised net operating income if the selling price increases by $1.10 per unit, fixed expenses increase by $7,000, 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 20%, variable expenses increase by 30 cents per unit, and the number of units sold decreases by 7%?…
Miller Company's contribution format income statement for the most recent month is shown below: Sales (40,000 units) Variable expenses Fixed expenses Contribution margin 19 Net operating income Required: Total $ 280,000 160,000 120,000 43,000 $ 77,000 Per Unit $ 7.00 4.00 $ 3.00 (Consider each case independently): 1. What is the revised net operating income if unit sales increase by 12%? 2. What is the revised net operating income if the selling price decreases by $1.40 per unit and the number of units sold increases by 17%? 3. What is the revised net operating income if the selling price increases by $1.40 per unit, fixed expenses increase by $5,000, and the number of units sold decreases by 6%? 4. What is the revised net operating income if the selling price per unit increases by 20%, variable expenses increase by 10 cents per unit, and the number of units sold decreases by 12%? Answer is complete but not entirely correct. 1. Net operating income $ 91,400 2. Net operating income $…
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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 (45,000 units) Variable expenses Contribution margin Fixed expenses Net operating income. Total $ 315,000 180,000 135,000 44,000 $91,000 Required: (Consider each case independently): 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 $1.50 per unit and the number of units sold increases by 15%? 3. What is the revised net operating income if the selling price increases by $1.50 per unit, fixed expenses increase by $7,000, and the number of units sold decreases by 8%? 4. What is the revised net operating income if the selling price per unit increases by 20%, variable expenses increase by 40 cents per unit, and the number of units sold decreases by 5%? > Answer is complete but not entirely correct. 1. Net operating income $ 109,900 2. Net operating income $…
iller Company's contribution format income statement for the most recent month is shown below: Total Per Unit Sales (32,000 units) $ 160,000 $5.00 Variable expenses 64,000 2.00 Contribution margin 96,000 $ 3.00 Fixed expenses 50,000 Net operating income $ 46,000 Required: (Consider each case independently): 1. What is the revised net operating income if unit sales increase by 12% ? 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 22% ? 3. What is the revised net operating income if the selling price increases by $1.30 per unit, fixed expenses increase by $7,000, and the number of units sold decreases by 4% ? 4. What is the revised net operating income if the selling price per unit increases by 20%, variable expenses increase by 40 cents per unit, and the number of units sold decreases by 12% ?
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Miller Company’s contribution format income statement for the most recent month is shown below: Total Per Unit Sales (36,000 units) $ 180,000 $ 5.00 Variable expenses 72,000 2.00 Contribution margin 108,000 $ 3.00 Fixed expenses 43,000 Net operating income $ 65,000 Required: (Consider each case independently): 1. What is the revised net operating income if unit sales increase by 17%? 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 24%? 3. What is the revised net operating income if the selling price increases by $1.30 per unit, fixed expenses increase by $6,000, and the number of units sold decreases by 3%? 4. What is the revised net operating income if the selling price per unit increases by 20%, variable expenses increase by 30 cents per unit, and the number of units sold decreases by 13%?
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