General accounting Reavis Company prepared the following income statement for 2012:REAVIS COMPANYIncome StatementFor the Year Ended December 31, 2012Sales (20,000 units)$600,000Variable expenses$360,000Contribution margin$240,000Fixed expenses$180,000$60,000Net incomeHow many units would the company have had to sell to earn a net income of$90,000 in 2012?

Calculation of Contribution per unit when 20,000 units are soldContribution per unit = Contribution…

Answered: Reavis Company prepared the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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The CVP income statement for Jen Company for 2022 appears below: Jen COMPANY CVP Income Statement For the Year Ended December 31, 2022 Sales (25,000 units) $650,000 Variable expenses 227,500 Contribution margin 422,500 Fixed expenses 456,300 Net income (loss) $(33,800) Instructions: Answer the following independent questions and show computations to support your answers: A) How much additional sales revenue does the company need to break even in 2022? B) If the company is able to reduce variable costs by $1.20 per unit in 2023 and other costs and unit revenues remain unchanged, how many units will the company have to sell in order to earn a net income of $68,000?
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