Required information[The following information applies to the questions displayed below.]Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products in separatefactories and markets them through different channels. They have no shared costs. This year, the company sold 46,000units of each product. Income statements for each product follow.SalesVariable costsContribution marginFixed costsInconeContribution marginMementos$ 800,400160,080640,320512,320$ 128,000 $ 128,0003. Assithat the company expects sales of each product to increase to 60,000 units next year with no change in unit selling price.Prepare a contribution margin income statement for the next year (as shown above with columns for each of the two products). (Round"per unit" answers to 2 decimal places.)Income (loss)Carvings$ 800,400640,320160,08032,080HENNA COMPANYContribution Margin Income StatementCarvingsUnits$ Per unit$$Total.000Mementos$ Per unit$Total0 $00 $Total0000 Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products in separatefactories and markets them through different channels. They have no shared costs. This year, the company sold 46,000units of each product. Income statements for each product follow.SalesVariable costsContribution marginFixed costsIncomeMementos$ 800,400160,080640,320512,320$ 128,000 $ 128,000Fixed costsSalesVariable costCarvings$ 800,400640,320160,08032,0803. Assume that the company expects sales of each product to increase to 60,000 units next year with no change in unit selling price.Prepare a contribution margin income statement for the next year (as shown above with columns for each of the two products). (Round"per unit" answers to 2 decimal places.)HENNA COMPANYContribution Margin Income StatementCarvingsUnits$ Per unit$$Total000Mementos$ Per unit$$Total0 $00$Total0000

The contribution margin is calculated as the difference between the sales and contribution margin.…

Required information [The following information applies to the questions displayed below.] Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 46,000 units of each product. Income statements for each product follow. Sales Variable costs Contribution margin Fixed costs Income Carvings $ 800,400 640,320 160,080 160,080 640,320 32,080 512,320 $ 128,000 $ 128,000 Mementos $ 800,400 3. Assume that the company expects sales of each product to increase to 60,000 units next year with no change in unit selling price. Prepare a contribution margin income statement for the next year (as shown above with columns for each of the two products). (Roun "per unit" answers to 2 decimal places.)

Required information [The following information applies to the questions displayed below.] Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 46,000 units of each product. Income statements for each product follow. Sales Variable costs Contribution margin Fixed costs Income Carvings $ 800,400 640,320 160,080 160,080 640,320 32,080 512,320 $ 128,000 $ 128,000 Mementos $ 800,400 3. Assume that the company expects sales of each product to increase to 60,000 units next year with no change in unit selling price. Prepare a contribution margin income statement for the next year (as shown above with columns for each of the two products). (Roun "per unit" 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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