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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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
Data concerning Strite Corporation's single product appear below: Selling price per unit Variable expense per unit Fixed expense per month Assume the company's target profit is $8,000. The dollar sales to attain that target profit is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $1,532,857 $429,200 $596,111 $ 150.00 $ 42.00 $ 421,200 $852,723
what is the dollar sales to attain that target profit is closest to Data concerning Strite Corporation's single product appear below: Selling price per unit Variable expense per unit Fixed expense per month $ 150.00 $ 42.00 $421,200 He Assume the company's target profit is $8,000. The dollar sales to attain that target profit is closest to: (Round your i calculations to 2 decimal places.)
Accounting Gosnell Company produces two products: squares and circles. The projected income for thecoming year, segmented by product line, follows:Squares Circles TotalSales P300,000 P2,500,000 P2,800,000Less: Variable expenses 100,000 500,000 600,000Contribution margin P200,000 P2,000,000 P2,200,000Less: Direct fixed expenses 28,000 1,500,000 1,528,000Product margin P172,000 P 500,000 P 672,000Less: Common fixedexpenses100,000Operating expenses P 572,000The selling prices are P30 for squares and P50 for circles.1. Compute the number of units of each product that must be sold for Gosnell Companyto break even.2. Assume that the marketing manager changes the sales mix of the two products sothat the ratio is three squares to five circles. Repeat Requirement 13. Refer to the original data. Suppose that Gosnell can increase the sales of squares withincreased advertising. The extra advertising would cost an additional P45,000, andsome of the potential purchasers of circles would switch to…
Miller Company’s most recent income statement follows: Total Per Unit Sales (15,000 units) $ 300,000 $ 20 Less: Variable expenses 180,000 12 Contribution margin 120,000 $ 8 Less: Fixed expenses 70,000 Net income $ 50,000 Consider each of the following cases independently. Required:1. Prepare a new income statement if the sales volume increases by 15%, and the selling price decreases by $1.00. (Do not round intermediate calculations. Round "Per Unit" answers to 2 decimal places.)
Assume a company reported the following results: Sales $ 400,e00 Variable expenses Contribution margin Fixed expenses 260,e00 140,000 96,e00 Net operating income $ 44,000 Average operating assets $ 350, 000 The margin is closest to: Muitiple Choice 12.9%. 35.0%. 114.3%.
provide the answer pls.
Data concerning Bedwell Enterprises Corporation's single product appear below: Selling price per unit $ 200.00 Variable expenses per unit $ 95.50 Fixed expense per month $ 441,890The unit sales to attain the company's monthly target profit of $27,000 is closest to: (Do not round intermediate calculations.) 4487 4910 2344 4229
18. Assume the company's monthly target profit is $17,000. The dollar sales to attain that target profit is closest to:A. $387,392B. $635,069C. $671,925D. $993,313
Data concerning Homme Corporation's single product appear below: Per Unit $190 114 $76 Selling price Variable expenses........ Contribution margin Percent of Sales 100% 60% 40% The company is currently selling 2,000 units per month. Fixed expenses are $130,000 per month. Consider each of the following questions independently. This question is to be considered independently of all other questions relating to Homme Corporation. Refer to the original data when answering this question. The marketing manager believes that a $12,000 increase in the monthly advertising budget would result in a 190 unit increase in monthly sales. What should be the overall effect on the company's monthly net operating income of this change? increase of $2,440 decrease of $12,000 increase of $14,440 decrease of $2,440
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CVP Analysis, *What IT?" AnalysisKevin Co. projected contribution-format income statement for the upcoming month is shownBelow Sales (500 units) $10000Variable expenses. 4000Contributions margin. 6000Fixed expenses. 1000Net operating income. 5000Required:a.) Compute the breakeven point in units.b) Compute the breakeven paint in dollars.c.) If the company wishes to earn a monthly target profit of $10,000, how many units must be sold each month?d.) Compute the company's margin of safety. State your answer in both dollar and percentage terms,e.) The company's manager thinks that adding a salaried sales staff member at a cost of 52,000 per month will increase sales by $4,000 per month. If he is correct, what will be the net dollar advantage or disadvantage of making this change?t.) Refer to the original data, the company's manager believes that a new production process will improve profitability. He plans to add new machinery that will cut variable expenses…