please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) !Required information[The following information applies to the questions displayed below]Astro Company sold 20,500 units of its only product and reported income of $77,400 for the current year. During aplanning session for next year's activities, the production manager notes that variable costs can be reduced 49% byinstalling a machine that automates several operations. To obtain these savings, the company must increase its annualfixed costs by $151,000. Total units sold and the selling price per unit will not change,ASTRO COMPANYContribution Margin Income StatementFor Year Ended DecemberSales ($51 per unit)Variable costs ($42 per unit)Contribution marginPixed costaIncome1. Compute the break-even point in dollar sales for next year assuming the machine is installed.Note: Round your answers to 2 decimal places.Contribution marginContribution Margin Ratio31$ 1,045,500861,000184,500107,1005 77,400Numerator:Denominator:Break-even point in dollar sales with new machine:Numerator:Denominator:Per unit=Contribution Margin RatioContribution margin ratioBreak-Even Point in DollarsBreak-even point indollars 2. Prepare a contribution margin income statement for next year that shows the expected results with the machine installed. Assumesales are $1,045,500.Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar.ASTRO COMPANYContribution Margin Income StatementFor Year Ended December 31Contribution margin3. Compute the sales level required in both dollars and units to earn $210,000 of target income for next year with the machineinstalled.Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Round "Contribution margin ratio" tonearest whole percentageSales level required in dollarsNumerator:Sales level required in unitsNumerator:Denominator:Denominator:Sales dollars requiredSales units required

The contribution margin is calculated as difference between sales and variable costs. The Break even…

Required information [The following information applies to the questions displayed below] Astro Company sold 20,500 units of its only product and reported income of $77,400 for the current year. During a planning session for next year's activities, the production manager notes that variable costs can be reduced 49% by installing a machine that automates several operations. To obtain these savings, the company must increase its annual fixed costs by $151,000. Total units sold and the selling price per unit will not change. ASTRO COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales ($51 per unit) Variable costs ($42 per unit) Contribution margin Fixed costs Income $1,045,500 861,000 184,500 107,100 $ 77,400 1. Compute the break-even point in dollar sales for next year assuming the machine is installed. Note: Round your answers to 2 decimal places.

Required information [The following information applies to the questions displayed below] Astro Company sold 20,500 units of its only product and reported income of $77,400 for the current year. During a planning session for next year's activities, the production manager notes that variable costs can be reduced 49% by installing a machine that automates several operations. To obtain these savings, the company must increase its annual fixed costs by $151,000. Total units sold and the selling price per unit will not change. ASTRO COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales ($51 per unit) Variable costs ($42 per unit) Contribution margin Fixed costs Income $1,045,500 861,000 184,500 107,100 $ 77,400 1. Compute the break-even point in dollar sales for next year assuming the machine is installed. Note: Round your answers to 2 decimal places.

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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