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Pharoah provides shuttle service between 4 hotels near a medical center and an international airport. Pharoah uses two 10-passenger vans to offer 12 round trips per day. A recent month's activity in the form of a cost-volume-profit income statement is as follows. Sales (1,400 passengers) Variable costs Fuel Tolls and parking Maintenance Contribution margin Fixed costs Salaries $4,077 2,507 696 11,000 $36,400 7,280 29,120

Pharoah provides shuttle service between 4 hotels near a medical center and an international airport. Pharoah uses two 10-passenger vans to offer 12 round trips per day. A recent month's activity in the form of a cost-volume-profit income statement is as follows. Sales (1,400 passengers) Variable costs Fuel Tolls and parking Maintenance Contribution margin Fixed costs Salaries $4,077 2,507 696 11,000 $36,400 7,280 29,120

FINANCIAL ACCOUNTING
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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(b) Without calculations, determine the contribution margin at the break-even point. Contribution margin at the break-even point $
Transcribed Image Text:(b) Without calculations, determine the contribution margin at the break-even point. Contribution margin at the break-even point $
Pharoah provides shuttle service between 4 hotels near a medical center and an international airport. Pharoah uses two 10-passenger vans to offer 12 round trips per day. A recent month's activity in the form of a cost-volume-profit income statement is as follows. Sales (1,400 passengers) Variable costs Fuel Tolls and parking Maintenance Contribution margin Fixed costs Salaries Depreciation (straight-line) Insurance Net income $4,077 2,507 696 11,000 1,300 4,860 $36,400 7,280 29,120 17,160 $11,960
Transcribed Image Text:Pharoah provides shuttle service between 4 hotels near a medical center and an international airport. Pharoah uses two 10-passenger vans to offer 12 round trips per day. A recent month's activity in the form of a cost-volume-profit income statement is as follows. Sales (1,400 passengers) Variable costs Fuel Tolls and parking Maintenance Contribution margin Fixed costs Salaries Depreciation (straight-line) Insurance Net income $4,077 2,507 696 11,000 1,300 4,860 $36,400 7,280 29,120 17,160 $11,960
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