Nighthawk Company's Income Statement for the Year Ended December 31, 2021 Sales (200,000 units) $1,200,000 Cost of goods sold 700,000 Gross profit 500,000 Operating expenses Selling $300,000 Administrative 275,000 575,000 Net loss $ (75,000) A cost behavior analysis indicates that 70% of the cost of goods sold are variable, 45% of the selling expenses are variable, and 40% of the administrative expenses are variable. Rounding Instructions -Round FINAL variable cost to 2 decimal, FINAL break even answers to unit and dollar. Format: Prepare parts B and C in CVP income statement format and show all computations using formulas in excel or google sheets for ALL calculations. Using the income statement above, compute the break-even point in total sales dollars and in units for 2021. 1.
Nighthawk Company's Income Statement for the Year Ended December 31, 2021 Sales (200,000 units) $1,200,000 Cost of goods sold 700,000 Gross profit 500,000 Operating expenses Selling $300,000 Administrative 275,000 575,000 Net loss $ (75,000) A cost behavior analysis indicates that 70% of the cost of goods sold are variable, 45% of the selling expenses are variable, and 40% of the administrative expenses are variable. Rounding Instructions -Round FINAL variable cost to 2 decimal, FINAL break even answers to unit and dollar. Format: Prepare parts B and C in CVP income statement format and show all computations using formulas in excel or google sheets for ALL calculations. Using the income statement above, compute the break-even point in total sales dollars and in units for 2021. 1.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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