Required information [The following information applies to the questions displayed below. Raner, Harris and Chan is a consulting firm specializing in information systems for medical and dental clinics. The firm has two offices-one in Chicago and one in Minneapolis. It classifies the direct costs of consulting jobs as variable costs. A contribution format segmented income statement for the company's most recent year is given below. Sales Variable expenses Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Net operating income Total Company $ 459,000 229,500 229,500 128,520 100,980 64,260 $36,720 100.00% 50.00% 50.00% 28.00% 22.00% 14.00% 8.00% Chicago $ 153,000 45,900 107,100 79,560 $ 27,540 office 100.00% 30.00% 70.00% 52.00% 18.00% Minneapolis $ 306,000 183,600 122,400 48,960 $ 73,440 100.00% 60.00% 40.00% 16.00% 24.00% equired: a. Compute the companywide break-even point in dollar sales. b. Compute the break-even point for the Chicago office and for the Minneapolis office. c. Is the companywide break-even point greater than, less than, or equal to the sum of the Chicago and Minneapolis break-even oints?

Required information [The following information applies to the questions displayed below. Raner, Harris and Chan is a consulting firm specializing in information systems for medical and dental clinics. The firm has two offices-one in Chicago and one in Minneapolis. It classifies the direct costs of consulting jobs as variable costs. A contribution format segmented income statement for the company's most recent year is given below. Sales Variable expenses Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Net operating income Total Company $ 459,000 229,500 229,500 128,520 100,980 64,260 $36,720 100.00% 50.00% 50.00% 28.00% 22.00% 14.00% 8.00% Chicago $ 153,000 45,900 107,100 79,560 $ 27,540 office 100.00% 30.00% 70.00% 52.00% 18.00% Minneapolis $ 306,000 183,600 122,400 48,960 $ 73,440 100.00% 60.00% 40.00% 16.00% 24.00% equired: a. Compute the companywide break-even point in dollar sales. b. Compute the break-even point for the Chicago office and for the Minneapolis office. c. Is the companywide break-even point greater than, less than, or equal to the sum of the Chicago and Minneapolis break-even oints?

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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