Please do not give solution in image format thanku Olongapo Sports Corporation distributestwo premium golf balls-Flight Dynamicand Sure Shot. Monthly sales and thecontribution margin ratios for the twoproducts follow: Product Total FlightDynamic Sure Shot Sales $ 660,000 $340,000 $1,000,000 CM ratio64% 75% ? question mark Fixedexpenses total $558, 000 per month.Required: Prepare a contribution formatincome statement for the company as awhole. What is the company's break-even point in dollar sales based on thecurrent sales mix? If sales increase by $47,000 a month, by how much wouldmonthly net operating income increase?

Break even point :— It is the point of production where total cost is equal to total revenue. At…

Answered: Olongapo Sports Corporation distributes…

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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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 Total Flight Dynamic Sure Shot Sales $ 650,000 $ 350,000 $ 1,000,000 CM ratio 66% 74% ? Fixed expenses total $575,000 per month. Required: 1. Prepare a contribution format income statement for the company as a whole.
Olongapo Sports Corporation distributes two premium golf —Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Total Flight Dynamic Sure Shot Sales $ 720,000 $ 280,000 $ 1,000,000 CM ratio 67% 72% ? Fixed expenses total $570,500 per month. 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 $48,000 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: Sales CM ratio Product Flight Dynamic $ 650,000 68% Fixed expenses total $587,500 per month. Sure Shot $ 350,000 76% Total $ 1,000,000 ? 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 $56,000 a month, by how much would monthly net operating income 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 Total Flight Dynamic Sure Shot Sales $ 660,000 $ 340,000 $ 1,000,000 CM ratio 64% 77% ? Fixed expenses total $572,500 per month. 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 $58,000 a month, by how much would you expect the monthly net operating income to increase?
Olongapo Sports Corporation distributes two premium golf balls—the Flight Dynamic and the Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: picture1 Fixed expenses total $183,750 per month. Required:1. Prepare a contribution format income statement for the company as a whole. Carry computations to one decimal place.2. Compute the break-even point for the company based on the current sales mix.3. If sales increase by $100,000 a month, by how much would you expect net operating incometo increase? What are your assumptions?
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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: Sales CM ratio Product Total Flight Dynamic $ 660,000 Sure Shot $ 340,000 $ 1,000,000 67% 79% Fixed expenses total $575,500 per month. 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 $60,000 a month, by how much would monthly net operating income increase? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution format income statement for the company as a whole. Note: Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Flight Dynamic Sure Shot Amount % Amount % Total Company Amount %
JKL Inc. markets two computer games: Game 101 and Game 102. A contribution format income statement for a recent month for the two games appears below: 101 102Sales P30,000 P70,000Variable expenses. 20,000 50,000 Required:a. Compute the overall contribution margin (CM) ratio for the company. b. Compute the overall break-even point for the company in sales dollars if fixed cost is P15,000. c. Verify the overall break-even point for the company by constructing a contribution format income statement showing the appropriate levels of sales for the two products.
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 Sure Shot Total Sales ................................................. $150,000 $250,000 $400,000 CM ratio ........................................ 80% 36% ? Fixed expenses total $183,750 per month.Required:1. Prepare a contribution format income statement for the company as a whole. Carry computations to one decimal place.2. What is the company’s break-even point in dollar sales based on the current sales mix?3. If sales increase by $100,000 a month, by how much would you expect the monthly net operating income to increase? What are your assumptions?
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es Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below: Sales Variable expenses Contribution margin Fixed expenses Net operating income Claimjumper $ 76,500 51,000 $ 25,500 Makeover $ 178,500 127,500 $ 51,000 Total $ 255,000 178,500 76,500 61,200 $ 15,300 Required: 1. What is the overall contribution margin (CM) ratio for the company? 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products.

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