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Need detail explanation Q. Find the breakeven point and provide the income statement at break even. ** attached image

Need detail explanation Q. Find the breakeven point and provide the income statement at break even. ** attached image

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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Q. Find the breakeven point and provide the income statement at break even.

** attached image

Sales.... Cost of goods sold Fixed Budget Report For Year Ended December 31, 2019 Direct materials .... Direct labor..... Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line).. Utilities ($45,000 is variable) .... Plant management salaries Gross profit...... Selling expenses Packaging..... Shipping ... Sales salary (fixed annual amount).. General and administrative expenses Advertising expense Salaries...... Entertainment expense Income from operations $975,000 225,000 60,000 300,000 195,000 200,000 75,000 105,000 250,000 125,000 241,000 90,000 $3,000,000 1,955,000 1,045,000 430,000 456,000 $ 159,000
Transcribed Image Text:Sales.... Cost of goods sold Fixed Budget Report For Year Ended December 31, 2019 Direct materials .... Direct labor..... Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line).. Utilities ($45,000 is variable) .... Plant management salaries Gross profit...... Selling expenses Packaging..... Shipping ... Sales salary (fixed annual amount).. General and administrative expenses Advertising expense Salaries...... Entertainment expense Income from operations $975,000 225,000 60,000 300,000 195,000 200,000 75,000 105,000 250,000 125,000 241,000 90,000 $3,000,000 1,955,000 1,045,000 430,000 456,000 $ 159,000
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