5. Need help with the formulas. Please use same numbers and letters as seen in pictures. **Financial Analysis Spreadsheet Overview**---**Total:**- **FORMULA1** - **FORMULA2**---**Additional Information:**- **Selling price per unit:** $16.00- **Expected unit sales:** 120,000- **Target profit:** $20,000---**Answer Section:**1. **Contribution margin per unit** - **FORMULA3**2. **Contribution margin (Total)** - **FORMULA4**3. **Contribution margin ratio** - **FORMULA5**4. **Break-even point in units** - **FORMULA6**5. **Break-even point in sales dollars** - **FORMULA7**6. **Target profit (Unit sales needed)** - **FORMULA8**7. **Target profit (Dollar sales needed)** - **FORMULA9**8. **Total revenue at expected unit sales** - **FORMULA10**9. **Net income at expected unit sales** - **FORMULA11**10. **Margin of safety as a percentage of sales** - **FORMULA12** ---This content provides a structured breakdown of financial calculations related to sales and profit metrics, useful for educational purposes in understanding basic business and accounting concepts. ### Data Section:**Production Costs:**- **Direct Materials:** Variable cost of $2.30 per unit- **Direct Labor:** Variable cost of $4.70 per unit- **Factory Overhead:** Fixed cost of $225,000 and a variable cost of $3.00 per unit**Selling Expenses:**- **Sales Salaries & Commissions:** Fixed cost of $97,000 and a variable cost of $0.75 per unit- **Advertising:** Fixed cost of $47,500- **Miscellaneous Selling Expense:** Fixed cost of $16,200**General Expenses:**- **Office Salaries:** Fixed cost of $92,000- **Supplies:** Fixed cost of $12,300 with a variable cost of $0.25 per unit- **Miscellaneous General Expense:** Fixed cost of $15,000**Total:** The total costs are computed using FORMULA1 for fixed costs and FORMULA2 for variable costs.### Additional Information:- **Selling Price per Unit:** $16.00- **Expected Unit Sales:** 120,000 units- **Target Profit:** $20,000This layout provides a detailed breakdown of fixed and variable costs associated with production, selling, and general expenses, along with key financial targets.

otal Additional information: Selling price per unit Expected unit sales Target profit Answer Section: Contribution margin per unit Contribution margin (Total) Contribution margin ratio Break-even point in units Break-even point in sales dollars Target profit (Unit sales needed) Target profit (Dollar sales needed) Total revenue at expected unit sales Net income at expected unit sales Margin of safety as a percentage of sales FORMULA1 $16.00 120,000 $20,000 FORMULA2 FORMULA3 FORMULA4 FORMULA5 FORMULA6 FORMULA7 FORMULA8 FORMULA9 FORMULA10 FORMULA11 FORMULA12

otal Additional information: Selling price per unit Expected unit sales Target profit Answer Section: Contribution margin per unit Contribution margin (Total) Contribution margin ratio Break-even point in units Break-even point in sales dollars Target profit (Unit sales needed) Target profit (Dollar sales needed) Total revenue at expected unit sales Net income at expected unit sales Margin of safety as a percentage of sales FORMULA1 $16.00 120,000 $20,000 FORMULA2 FORMULA3 FORMULA4 FORMULA5 FORMULA6 FORMULA7 FORMULA8 FORMULA9 FORMULA10 FORMULA11 FORMULA12

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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