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 %
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ROI and Margin Arbus Company provided the following information: Turnover 1.3 Operating assets $106,000 Operating income 6,620 Required: 1. What is ROI? (Round your answer to three decimals.) 0.062 ✓ 2. What is margin? (Round your answer to two decimals.) X Feedback
Required Supply the missing information in the following table for Rooney Company. (Do not round intermediate calculations. Round "ROI" answer to 2 decimal places. (i.e., 0.2345 should be entered as 23.45).)
A company has following details for this yearDetails Total sales($) 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