Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot Monthly sales and the contribution margin ratios for the two products follow: Product Flight Dynamic $ 748,000 Sales CM ratio Fixed expenses total $558,500 per month. 68% Sure Shot $ 260,000 78% Total $1,000,000 2 Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $43,000 a month, by how much would you expect the monthly net operating income to increase?

Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot Monthly sales and the contribution margin ratios for the two products follow: Product Flight Dynamic $ 748,000 Sales CM ratio Fixed expenses total $558,500 per month. 68% Sure Shot $ 260,000 78% Total $1,000,000 2 Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $43,000 a month, by how much would you expect the monthly net operating income to increase?

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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