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Multiple Product Break-Even Analysis oe's Tax Service provides professional accounting and tax services. All tax return services are classified into one of three categories: standard, multiform, and complex. Following is information for ast year. Also, last year, the fixed cost of rent, utilities, and so forth were $65,000. Standard Multiform Complex $265 (150) $115 250 Billing rate Average variable costs Average contribution margin Number of returns prepared 1,750 $65 (30) $35 $140 (75) $65 500 Required (a.) Determine Joe's break-even dollar sales volume. Enter billing rates and contribution margins using all decimals, when needed. Round contribution margin ratio to three decimal places. Round break-even sales volume to the nearest dollar. Weighted

Multiple Product Break-Even Analysis oe's Tax Service provides professional accounting and tax services. All tax return services are classified into one of three categories: standard, multiform, and complex. Following is information for ast year. Also, last year, the fixed cost of rent, utilities, and so forth were $65,000. Standard Multiform Complex $265 (150) $115 250 Billing rate Average variable costs Average contribution margin Number of returns prepared 1,750 $65 (30) $35 $140 (75) $65 500 Required (a.) Determine Joe's break-even dollar sales volume. Enter billing rates and contribution margins using all decimals, when needed. Round contribution margin ratio to three decimal places. Round break-even sales volume to the nearest dollar. Weighted

FINANCIAL ACCOUNTING
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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Multiple Product Break-Even Analysis Joe's Tax Service provides professional accounting and tax services. All tax return services are classified into one of three categories: standard, multiform, and complex. Following is information for last year. Also, last year, the fixed cost of rent, utilities, and so forth were $65,000. Billing rate Average variable costs Average contribution margin Number of returns prepared 1,750 Product Standard Multiform Complex Total Standard Multiform Complex $265 (150) $115 250 Contribution margin ratio: Break-even sales volume: $65 (30) $35 Required (a.) Determine Joe's break-even dollar sales volume. • Enter billing rates and contribution margins using all decimals, when needed. • Round contribution margin ratio to three decimal places. • Round break-even sales volume to the nearest dollar. 5 Weighted Weighted Contribution Billing Rate Margin S 0 $ 0 $140 (75) $65 500 0 0 $ $ 0 0 0 0 0 0 (b.) Determine Joe's margin of safety in sales dollars. Hint: Use weighted average billing rate. Round answer to the nearest whole number. $0
Transcribed Image Text:Multiple Product Break-Even Analysis Joe's Tax Service provides professional accounting and tax services. All tax return services are classified into one of three categories: standard, multiform, and complex. Following is information for last year. Also, last year, the fixed cost of rent, utilities, and so forth were $65,000. Billing rate Average variable costs Average contribution margin Number of returns prepared 1,750 Product Standard Multiform Complex Total Standard Multiform Complex $265 (150) $115 250 Contribution margin ratio: Break-even sales volume: $65 (30) $35 Required (a.) Determine Joe's break-even dollar sales volume. • Enter billing rates and contribution margins using all decimals, when needed. • Round contribution margin ratio to three decimal places. • Round break-even sales volume to the nearest dollar. 5 Weighted Weighted Contribution Billing Rate Margin S 0 $ 0 $140 (75) $65 500 0 0 $ $ 0 0 0 0 0 0 (b.) Determine Joe's margin of safety in sales dollars. Hint: Use weighted average billing rate. Round answer to the nearest whole number. $0
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