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Refer back to the original information. Blake has decided to add stadium blankets to his product line. He has found a supplier who will provide the blankets for $32, and he plans to sell them for $60. All other variable costs currently incurred for selling mascots will be incurred for selling blankets at the same rate. Additional fixed costs of $125 per month will be incurred. He believes he can sell one blanket for every four stuffed mascots. How many blankets and stuffed mascots will Blake need to sell each month in order to break even? (Round per unit to 2 decimal places and final answers to 0 decimal places, e.g. 5,275.) blankets mascots

Refer back to the original information. Blake has decided to add stadium blankets to his product line. He has found a supplier who will provide the blankets for $32, and he plans to sell them for $60. All other variable costs currently incurred for selling mascots will be incurred for selling blankets at the same rate. Additional fixed costs of $125 per month will be incurred. He believes he can sell one blanket for every four stuffed mascots. How many blankets and stuffed mascots will Blake need to sell each month in order to break even? (Round per unit to 2 decimal places and final answers to 0 decimal places, e.g. 5,275.) blankets mascots

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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(g) Refer back to the original information. Blake has decided to add stadium blankets to his product line. He has found a supplier who will provide the blankets for $32, and he plans to sell them for $60. All other variable costs currently incurred for selling mascots will be incurred for selling blankets at the same rate. Additional fixed costs of $125 per month will be incurred. He believes he can sell one blanket for every four stuffed mascots. How many blankets and stuffed mascots will Blake need to sell each month in order to break even? (Round per unit to 2 decimal places and final answers to O decimal places, e.g. 5,275.) blankets mascots
Transcribed Image Text:(g) Refer back to the original information. Blake has decided to add stadium blankets to his product line. He has found a supplier who will provide the blankets for $32, and he plans to sell them for $60. All other variable costs currently incurred for selling mascots will be incurred for selling blankets at the same rate. Additional fixed costs of $125 per month will be incurred. He believes he can sell one blanket for every four stuffed mascots. How many blankets and stuffed mascots will Blake need to sell each month in order to break even? (Round per unit to 2 decimal places and final answers to O decimal places, e.g. 5,275.) blankets mascots
Using the following income statements, prepare a contribution margin income statement for March. (Round per unit answers to 2 decimal places, e.g. 52.75.) Sales revenue Cost of goods sold Gross profit Rent expense Wages expense Shipping expense Utilities expense Advertising expense Insurance expense Operating income February $25,000 10,000 15,000 1,500 3,500 1,100 750 1,000 585 $6,565 March $37,500 15,000 22,500 1,500 5,000 1,650 750 1,400 585 $11,615
Transcribed Image Text:Using the following income statements, prepare a contribution margin income statement for March. (Round per unit answers to 2 decimal places, e.g. 52.75.) Sales revenue Cost of goods sold Gross profit Rent expense Wages expense Shipping expense Utilities expense Advertising expense Insurance expense Operating income February $25,000 10,000 15,000 1,500 3,500 1,100 750 1,000 585 $6,565 March $37,500 15,000 22,500 1,500 5,000 1,650 750 1,400 585 $11,615
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