19Miller Company's most recent income statement follows:TotalPer Unit$672,000$28Sales (24,000 units)Less: Variable expenses408,00017Contribution margin264,000$1128,000Less: Fixed expensesNet income$236,000Consider each of the following cases independently.Required:1. Prepare a new income statement if the sales volume increases by 30%, andintermediate calculations. Round "Per Unit" answers to 2 decimal places.)TotalPer UnitSalesNext< Prev3 of 12 2. Prepare a new income statement if the selling price decreases by $3.0 per unit, and the sales volume increases by 20%. (Do notround intermediate calculations. Round "Per Unit" answers to 2 decimal places.)TotalPer Unit8Sales3. Prepare a new income statement if the selling price increases by $1.0 per unit, fixed expenses increase by $5,000 and the salesvolume decreases by 5%. (Do not round intermediate calculations. Round "Per Unit" answers to 2 decimal places.)

Contribution margin income statement is one of the statement prepared in cost accounting. Under this…

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. Required: 1. Prepare a new income statement if the sales volume increases by 30%, and 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. Required: 1. Prepare a new income statement if the sales volume increases by 30%, and 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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Bb.39.
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 $…
Required Supply the missing information in the following table for Vernon Company. (Do not round intermediate calculations. Round "ROI" answer to 2 decimal places. (i.e., 0.2345 should be entered as 23.45).) Sales $369,600 ROI % Operating assets Operating income Turnover 2.1 Residual income Operating profit margin 14 % Desired rate of return 17 %
Subject: accounting
Nn1.
Given the following data: Selling price per unit Variable production cost per unit Fixed production cost Sales commission per unit Fixed selling expenses $ 2.00 $ 0.30 $3,000 $ 0.20 $1,500 The break-even point in dollars is: (Round your intermediate calculations to 2 decimal places.)
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ROI and Margin Arbus Company provided the following information: Turnover 1.3 Operating assets $106,000 Operating income 6,620 Required: 1. What is ROI? (Round your answer to three decimals.) 0.062 ✓ 2. What is margin? (Round your answer to two decimals.) X Feedback
Required Supply the missing information in the following table for Rooney Company. (Do not round intermediate calculations. Round "ROI" answer to 2 decimal places. (i.e., 0.2345 should be entered as 23.45).)
The following information has been taken from the accounting records of Ahmed and Company in first and second period. Period Sales Profit 2019 $ 100,000 $15,000 2020 150,000 25,000 Calculate: 1) Profit volume ratio 2) Fixed cost for two periods 3) Variable cost of two periods. 4) Break Even Point in dollars sales Sales required to earn a profit of $25,000 Profit when sales are $200,000
A company has following details for this yearDetails Total sales($) Total cost($) Details Total sales($) Total cost($)Year ended 31/12/2018 35,78,998 25,89,709Year ended 31/12/2019 48,90,742 31,67,984 Calculate P/V ratio, Fixed cost, break even sales, Margin of safety 2018/2019, Variable cost 2018/2019and percent of fixed cost 2018/2019