Required information [The following information applies to the questions displayed below] Hudson Company reports the following contribution margin income statement. BUDSON COMPANY Contribution Margin Income Statement For Year Ended December 11 Sales (10.700 units at $300 each) Variable costs (10.700 units at $240 each) Contribution margin Fixed costs Income 1. Amount of sales 2. Margin of safety $3,210,000 2.568,000 642,000 504.000 $ 130,000 1. Assume Hudson has a target income of $161,000. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target income, what is its margin of safety (in percent)? (Round your answer to 1 decimal place.)

Required information [The following information applies to the questions displayed below] Hudson Company reports the following contribution margin income statement. BUDSON COMPANY Contribution Margin Income Statement For Year Ended December 11 Sales (10.700 units at $300 each) Variable costs (10.700 units at $240 each) Contribution margin Fixed costs Income 1. Amount of sales 2. Margin of safety $3,210,000 2.568,000 642,000 504.000 $ 130,000 1. Assume Hudson has a target income of $161,000. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target income, what is its margin of safety (in percent)? (Round your answer to 1 decimal place.)

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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