Oriole Manufacturing earned net income of $116,000 during 2021. The company wants to earn net income of $56,000 more during 2022. The company's fixed costs are expected to be $163,020, and variable costs are expected to be 30% of sales (a) Your answer has been saved. See score details after the due date. Determine the required sales to meet the target net income during 2022. (b) Required sales $ 312885.71 Attempts: 1 of 1 used Fill in the dollar amounts for the summary income statement for 2022 below, based on your answer to part (a). Sales revenue $ Variable costs Contribution margin Fixed costs Net income/(Loss)

Oriole Manufacturing earned net income of $116,000 during 2021. The company wants to earn net income of $56,000 more during 2022. The company's fixed costs are expected to be $163,020, and variable costs are expected to be 30% of sales (a) Your answer has been saved. See score details after the due date. Determine the required sales to meet the target net income during 2022. (b) Required sales $ 312885.71 Attempts: 1 of 1 used Fill in the dollar amounts for the summary income statement for 2022 below, based on your answer to part (a). Sales revenue $ Variable costs Contribution margin Fixed costs Net income/(Loss)

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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