Publix sold 1,000 units last month which yielded the income statement below.Sales$20,000Variable Expenses 12,000Contribution Margin 8,000Fixed Expenses 6,000$2,000Net IncomeAnswer the questions that follow using the given information.1. What is Publix's contribution margin per unit?2. What is the contribution margin ratio?3. What is the break-even point in units?4. What is the break-even point in dollars?5. How many units have to be sold to reach a target profit of $5,000?

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

Answered: Publix sold 1,000 units last month…

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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Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Limited Contribution Income Statement Product White Percentage of total sales % Fragrant % Loonzain % % % % % % $ 0 0% $ 0 0 % $ 0 0% Total % % % 0 0% $ 0
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USING THE WEIGHTED AVERAGE METHOD, HOW MUCH IS THE COST OF GOOD SOLD AT THE END OF NOVEMBER?
The following information relates to Oil Change Company. Oil Change Co. Projected Net Income For a Week Sales (160 cars serviced at $24 per car) Variable Expenses (160 cars at $9 per car) Contribution Margin Fixed Expenses Net Income Calculate the following: (i) Unit Contribution: (ii) Total Contribution: (iii) Break Even Point in Units (iv) Break Even Point in Dollars (v) Net Profit: $3,840 - 1,440 2,400 - 2,400 $ 0
Adam, Inc., sells a single product. The company's most recent income statement is given below. Sales Less variable expenses Contribution margin Less fixed expenses $200,000 (120,000) 80,000 (50,000) 30.000 Net income Required: Contribution margin ratio is b. a. % Breakeven point in total sales dollars is To achieve $40,000 in net income, sales must total d. $ $ С. If sales increase by $50,000, net income will increase by |4
Given the following data: Selling price per unit Variable production cost per unit Fixed production cost Sales commission per unit Fixed selling expenses $ 2.00 $ 0.30 $3,000 $ 0.20 $1,500 The break-even point in dollars is: (Round your intermediate calculations to 2 decimal places.)
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Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Estimated Variable Cost Fixed Cost (per unit sold) Production costs: Direct materials $50.00 Direct labor 30.00 Factory overhead $350,000 6.00 Selling expenses: Sales salaries and commissions 340,000 4.00 Advertising 116,000 Travel 4,000 Miscellaneous selling expense 2,300 1.00 Administrative expenses: Office and officers' salaries 325,000 Supplies 6,000 4.00 Miscellaneous administrative expense 8,700 1.00 Total $1,152,000 $96.00 It is expected that 12,000 units will be sold at a price…
The Biscuits Crunch Company had the following information available regarding last year's operations: Sales (100,000 units) Variable costs Contribution margin Fixed costs Net Income $200,000 100,000 100,000 50,000 50,000 If sales were to increase by 200 units, what would be the effect on net income? A) 400 increase B) 200 increase C) 100 increase D) 200 loss E) 150 increase
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 References Required: 1. What is the overall contribution margin (CM) ratio for the company? Ass 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. complete all parts P References Sales Claimjumper $ 94,000 23,560 $ 70,440 $ 42,360 What is the overall contribution margin (CM) ratio for the company? Overal CM ratio Net operating income (loss) Makeover $ 47,000 4,640 Required 1 Required 2 What is the company's overall break-even point in dollar sales? (Do not round intermediate calculations.) Overall brouk-even point Complete this question by entering your answers in the tabs below.…
10. The income statement for Jeeves Ltd for 2015 is shown below: Sales (100 000 units) $40 000 Variable cost $24 000 Contribution margin $16 000 Fixed costs $12 000 Net Income $ 4000 What is the contribution margin ratio? A. 10% В. 30% C. 40% D. 60% 11. What is the difference between total sales in dollars and total variable expenses called? A Net operating income B. Net profit C. The gross margin D. The contribution margin 12. How is the margin of safety computed? A Break-even'total sales B. Total sales - Break-even sales

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