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Required information Morning Dove Company manufactures one model of birdbath, which is very popular. Morning Dove sells all units it produces each month. The relevant range is 0-1,700 units, and monthly production costs for the production of 1,200 units follow. Morning Dove's utilities and maintenance costs are mixed with the fixed components shown in parentheses. Production Costs Direct materials Direct labor Utilities ($100 fixed) Supervisor's salary Maintenance ($300 fixed) Depreciation Total Cost $2,700 7,100 640 2,900 530 800 Suppose it sells each birdbath for $30. Required: 1. Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. 2. Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units. Suppose it sells each birdbath for $30. Required: 1. Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. 2. Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. (Round Variable cost per unit to 2 decimal places. Round your contribution margin ratio to 2 decimal places. Enter all amounts as positive values.) Required 1 Required 2 MORNING DOVE COMPANY Contribution Margin Income Statement Expected for 1,400 Units Contribution Margin < Required 1 Net Operating Income. Unit Contribution Margin < Required 1 Contribution Margin Ratio Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units. (Round your intermediate calculation to 2 decimal places.) Required 2 > per Birdbath Required 2 > %

Required information Morning Dove Company manufactures one model of birdbath, which is very popular. Morning Dove sells all units it produces each month. The relevant range is 0-1,700 units, and monthly production costs for the production of 1,200 units follow. Morning Dove's utilities and maintenance costs are mixed with the fixed components shown in parentheses. Production Costs Direct materials Direct labor Utilities ($100 fixed) Supervisor's salary Maintenance ($300 fixed) Depreciation Total Cost $2,700 7,100 640 2,900 530 800 Suppose it sells each birdbath for $30. Required: 1. Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. 2. Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units. Suppose it sells each birdbath for $30. Required: 1. Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. 2. Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. (Round Variable cost per unit to 2 decimal places. Round your contribution margin ratio to 2 decimal places. Enter all amounts as positive values.) Required 1 Required 2 MORNING DOVE COMPANY Contribution Margin Income Statement Expected for 1,400 Units Contribution Margin < Required 1 Net Operating Income. Unit Contribution Margin < Required 1 Contribution Margin Ratio Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units. (Round your intermediate calculation to 2 decimal places.) Required 2 > per Birdbath Required 2 > %

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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Required information Morning Dove Company manufactures one model of birdbath, which is very popular. Morning Dove sells all units it produces each month. The relevant range is 0-1,700 units, and monthly production costs for the production of 1,200 units follow. Morning Dove's utilities and maintenance costs are mixed with the fixed components shown in parentheses. Production Costs Direct materials Direct labor Utilities ($100 fixed) Supervisor's salary Maintenance ($300 fixed) Depreciation Total Cost $2,700 7,100 640 2,900 530 800 Suppose it sells each birdbath for $30. Required: 1. Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. 2. Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units.
Transcribed Image Text:Required information Morning Dove Company manufactures one model of birdbath, which is very popular. Morning Dove sells all units it produces each month. The relevant range is 0-1,700 units, and monthly production costs for the production of 1,200 units follow. Morning Dove's utilities and maintenance costs are mixed with the fixed components shown in parentheses. Production Costs Direct materials Direct labor Utilities ($100 fixed) Supervisor's salary Maintenance ($300 fixed) Depreciation Total Cost $2,700 7,100 640 2,900 530 800 Suppose it sells each birdbath for $30. Required: 1. Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. 2. Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units.
Suppose it sells each birdbath for $30. Required: 1. Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. 2. Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. (Round Variable cost per unit to 2 decimal places. Round your contribution margin ratio to 2 decimal places. Enter all amounts as positive values.) Required 1 Required 2 MORNING DOVE COMPANY Contribution Margin Income Statement Expected for 1,400 Units Contribution Margin < Required 1 Net Operating Income. Unit Contribution Margin < Required 1 Contribution Margin Ratio Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units. (Round your intermediate calculation to 2 decimal places.) Required 2 > per Birdbath Required 2 > %
Transcribed Image Text:Suppose it sells each birdbath for $30. Required: 1. Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. 2. Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. (Round Variable cost per unit to 2 decimal places. Round your contribution margin ratio to 2 decimal places. Enter all amounts as positive values.) Required 1 Required 2 MORNING DOVE COMPANY Contribution Margin Income Statement Expected for 1,400 Units Contribution Margin < Required 1 Net Operating Income. Unit Contribution Margin < Required 1 Contribution Margin Ratio Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units. (Round your intermediate calculation to 2 decimal places.) Required 2 > per Birdbath Required 2 > %
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