Ocean World charges $95 per person for a day pass. Variable costs are $38 per visitor, and fixed costs total $342,000 per month. a. Calculate Ocean World's contribution margin ratio. b. Using the contribution margin ratio approach, determine the sales revenue needed for Ocean World to break even.
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- Jolly Travel Agency specializes in flights between Toronto and Jamaica. It books passengers on Bolton Air. Jolly's fixed costs are $25,500 per month. Bolton Air charges passengers $1,300 per round-trip ticket. Read the requirement LOADING... . Begin by selecting the formula to calculate the breakeven points. Breakeven number of units = Fixed costs ÷ Contribution margin per unit Next, select the formula to calculate the number of tickets needed to meet the target operating income. Quantity of units required to be sold = ( Fixed costs + Target operating income ) ÷ Contribution margin per unit Now complete the requirement for each of the cases. Begin with case 1. Case 1: Jolly's variable costs are $44 per ticket. Bolton Air pays Jolly 6% commission on ticket price. Jolly must sell tickets to break even and…Golden Travel Agency specializes in flights between Toronto and Jamaica. It books passengers on Vancouver Air. Golden's fixed costs are $25,500 per month. Vancouver Air charges passengers $1,400 per round-trip ticket. Read the requirement. Begin by selecting the formula to calculate the breakeven points. Breakeven Requirement number of units Fixed costs Contribution margin per unit Next, select the formula to calculate the number of tickets needed to meet the target operating income. Calculate the number of tickets Golden must sell each month to (a) break even and (b) make a target operating income of $15,000 per month in each of the following independent cases. (Round up to the nearest whole number. For example, 10.2 should be rounded up to 11.) Quantity of units required to be sold = ( Fixed costs Target operating income ) + Contribution margin per unit + 1. Golden's variable costs are $40 per ticket. Vancouver Air pays Golden 10% commission on ticket price. 2. Golden's variable…Funday Park competes with Cool World by providing a variety of rides. Funday sells tickets at $85 per person as a one-day entrance fee. Variable costs are $17 per person, and fixed costs are $428,400 per month. Compute Funday Park's contribution margin ratio. Carry your computation to two decimal places. Use the contribution margin ratio approach to determine the sales revenue Funday Park needs to break even. Begin by selecting the formula labels and then enter the amounts to compute the contribution margin ratio. (Enter you answer to the nearest percent, X%.) ÷ = Contribution margin ratio ÷ = % Begin by selecting the formula and then entering the amounts to calculate the sales in dollars Funday needs to break even. (Abbreviation used: CM = contribution margin. Complete all input fields. For items with a zero value, enter "0".) ( + ) ÷ = Required sales in dollars…
- Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $590 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 760 canoes for $590 each. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $590 each. 5. Suppose Sandy Bank wants to earn $76,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $590 each. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the following table. Note: Round your "Cost per Unit" answers to 2 decimal places. Number of Canoes Produced and Sold Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Required 3 Required 4 Variable Cost per Unit Fixed Cost per Unit Total Cost per Unit $ $ $ 500 Required 5 780 0 0.00Sharp Company makes and sells pencil sharpeners. The variable cost of each sharpener is $20. The sharpeners are sold for $30 each. Fixed operating expenses amount to $40,000. a. Determine the break-even point in units and sales dollars. b-1. Determine the sales volume in units and dollars that is required to attain a profit of $12,000. b-2. Prepare an income statement using the contribution margin format to verify your answer. c. Determine the margin of safety between sales required to attain a profit of $12,000 and break-even sales.Dominic's Deli recently calculated its annual break-even sales revenue to be $280,000. For each dollar of sales revenue, $0.40 goes to cover variable costs. a. Compute the contribution margin ratio. b. Compute the total fixed costs. c. Compute the sales revenue that would have to be generated to earn an operating income of $144,000. a. Contribution margin ratio b. Total fixed costs c. Sales revenue 60 %
- Bradford Enterprises sells two products, blue pens and green notebooks. Bradford predicts that it will sell 3,200 blue pens and 900 green notebooks in the next period. The unit contribution margins for blue pens and green notebooks are $2.80 and $4.20, respectively. What is the weighted average unit contribution margin? HelpI don't need ai answer general accounting questionWhat is the weighted average contribution margin?
- 1. Compute the contribution margin per package and the contribution margin ratio. 2. Find the breakeven point in units and in dollars. 3. Find the number of packages Socks Unlimited needs to sell to earn a $22,000 operating income.I need to understand how to get the variable expenses, can you show work. Overall CM ratio 75% Overall Breakeven Point $117,000Bradford Enterprises sells two products, blue pens and green notebooks. Bradford predicts that it will sell 3,200 blue pens and 900 green notebooks in the next period. The unit contribution margins for blue pens and green notebooks are $2.80 and $4.20, respectively. What is the weighted average unit contribution margin? Provide answer
