Required information [The following information applies to the questions displayed below] Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin Fixed expenses Operating income $21,200 12,400 8,800 6,952 $ 1,848 11-a. What is the margin of safety in dollars? (Do not round intermediate calculations.) Margin of safety 11-b. What is the margin of safety percentage? (Round your final answer to the nearest whole percentage (i.e, .12 should be ente as 12).) Margin of safety %

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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am.106.

Required information
[The following information applies to the questions displayed below.]
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the
relevant range of production is 500 units to 1,500 units):
Sales
Variable expenses
Contribution margin
Fixed expenses
Operating income
Margin of safety
11-a. What is the margin of safety in dollars? (Do not round intermediate calculations.)
$21,200
12,400
Margin of safety
8,800
6,952
$ 1,848
11-b. What is the margin of safety percentage? (Round your final answer to the nearest whole percentage (i.e, .12 should be entered
as 12).)
%
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin Fixed expenses Operating income Margin of safety 11-a. What is the margin of safety in dollars? (Do not round intermediate calculations.) $21,200 12,400 Margin of safety 8,800 6,952 $ 1,848 11-b. What is the margin of safety percentage? (Round your final answer to the nearest whole percentage (i.e, .12 should be entered as 12).) %
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