Please do not give solution in image format thanku Product Profitability AnalysisGalaxy Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVs), the Conquistador and Hurricane, from a singlemanufacturing facility. The manufacturing facility operates at 100% of capacity. The following per-unit information is available for thetwo products:Sales price$6,600Variable cost of goods sold (4,160)Manufacturing margin$2,440Variable selling expenses (1,252)Contribution margin$1,188Fixed expensesSales unit volume 2,400Question Content Area(560)Operating income$628In addition, the following sales unit volume information for the period is as follows:Conquistador HurricaneConquistador HurricaneGalaxy Sports Inc.Contribution Margin by ProductSalesVariable cost of goods soldManufacturing marginVariable selling expensesContribution marginContribution margin ratioa. Prepare a contribution margin by product report. Compute the contribution margin ratio for each product as a whole percent.$4,000(2,680)$1,3201,700Conquistador(760)$560(220)$340Hurricane

Contribution margin is the excess of sales over variable cost. It is calculated as ; Contribution…

Product Profitability Analysis Galaxy Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVs), the Conquistador and Hurricane, from a single manufacturing facility. The manufacturing facility operates at 100% of capacity. The following per-unit information is available for the two products: Sales price $6,600 Variable cost of goods sold (4,160) Manufacturing margin $2,440 Variable selling expenses Contribution margin Fixed expenses (1,252) $1,188 (560) Operating income $628 In addition, the following sales unit volume information for the period is as follows: Conquistador Hurricane Sales unit volume 2,400 Question Content Area Conquistador Hurricane Sales a. Prepare a contribution margin by product report. Compute the contribution margin ratio for each product as a whole percent. Variable cost of goods sold Manufacturing margin Variable selling expenses Galaxy Sports Inc. Contribution Margin by Product Contribution margin Contribution margin ratio 1,700 $4,000 (2,680) $1,320 (760) $560 (220) $340 Conquistador Hurricane

Product Profitability Analysis Galaxy Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVs), the Conquistador and Hurricane, from a single manufacturing facility. The manufacturing facility operates at 100% of capacity. The following per-unit information is available for the two products: Sales price $6,600 Variable cost of goods sold (4,160) Manufacturing margin $2,440 Variable selling expenses Contribution margin Fixed expenses (1,252) $1,188 (560) Operating income $628 In addition, the following sales unit volume information for the period is as follows: Conquistador Hurricane Sales unit volume 2,400 Question Content Area Conquistador Hurricane Sales a. Prepare a contribution margin by product report. Compute the contribution margin ratio for each product as a whole percent. Variable cost of goods sold Manufacturing margin Variable selling expenses Galaxy Sports Inc. Contribution Margin by Product Contribution margin Contribution margin ratio 1,700 $4,000 (2,680) $1,320 (760) $560 (220) $340 Conquistador Hurricane

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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