Miller Company's most recent income statement follows: Total Per Unit $672,000 $28 Sales (24,000 units) Less: Variable expenses 408,000 17 Contribution margin 264,000 $11 Less: Fixed expenses 28,000 Net income $236,000 Consider each of the following cases independently. Saved Help Save & Exit HEM: MGM I OJUU - MIUterm Exa... 3. Prepare a new income statement if the selling price increases by $1.0 per unit, fixed expenses increase by $5,000 and the volume decreases by 5%. (Do not round intermediate calculations. Round "Per Unit" answers to 2 decimal places.) Total Per Unit Sales

Miller Company's most recent income statement follows: Total Per Unit $672,000 $28 Sales (24,000 units) Less: Variable expenses 408,000 17 Contribution margin 264,000 $11 Less: Fixed expenses 28,000 Net income $236,000 Consider each of the following cases independently. Saved Help Save & Exit HEM: MGM I OJUU - MIUterm Exa... 3. Prepare a new income statement if the selling price increases by $1.0 per unit, fixed expenses increase by $5,000 and the volume decreases by 5%. (Do not round intermediate calculations. Round "Per Unit" answers to 2 decimal places.) Total Per Unit Sales

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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Multiproduct breakeven analysis and target profit, taxes Pursuit Company produces two products: Bric and Brac. The following table summarizes the products' details and planned unit sales for the upcoming period: Bric BrAc Sellingpriceperunt...........$S25$30 Variablecostperunit ... $14$17 Planned unit sales volume . . . . . . 800, 000 400,000 Pursuit Company has total fixed costs of $10 million and faces a tax rate of 30%. Required (a)What is Pursuit Company's expected profit at the planned level of sales? (b)Assuming a constant sales mix, what are the unit sales of Bric and Brac required for Pursuit Company to break even? (c) Assuming a constant sales mix, what are the unit sales of Bric and Brac required for Pursuit Company to earn an after-tax income of $910, 000 ?
Miller Company's most recent income statement follows: Sales (18,9e0 units) Less: Variable expenses Total $504, 000 126, 000 Per Unit $ 28 Contribution margin 378,000 $ 21 Less: Fixed expenses 53,00 $325, 000 Net income Consider each of the following cases independently. Required: 1. Prepare a new income statement if the sales volume increases by 30%, and the selling price decreases by $4.00. (Do not round Intermedlate calculations. Round "Per Unlt" answers to 2 decimel places.) Total Per Unit Sales
2. From the following details find out (a) Profit volume ratio, (b) BEP, (c) Margin of safety. SR 250,000 Fixed Costs Sales SR 50,000 Total Costs Solution: SR 150,000 Net Profit SR 50,000