screenshot attachedvo Company manufactures and sells a single product. The company's sales and expenses for last year follow: gwoii Ruby Company manufactures and sells a single product. The company's sales and expenses for last year follow:(Click the icon to view the information.)Read the requirementsRequirement 1. Fill in the missing numbers in the table. Use the following questions to help fill in the missing numbers in the table:a. What is the total contribution margin?The total contribution margin isb. What is the total variable expense?$ 30,000The total variable expense isc. How many units were sold?$ 120,0005,000 units were sold.d. What is the per-unit variable expense?The per-unit variable expense is KRuby Company manufactures and sells a single product. The company's sales and expenses for last year follow:(Click the icon to view the information.)RequirementsData tableSales.Variable expenses.Contribution marginFixed expenses.Operating income.......$Total Per Unit150,000 $??13,50016,50030??%- X???1. Fill in the missing numbers in the table. Use the following questions to help fill in themissing numbers in the table:a. What is the total contribution margin?b. What is the total variable expense?c. How many units were sold?d. What is the per-unit variable expense?e. What is the per-unit contribution margin?2. Answer the following questions about breakeven analysis:a. What is the breakeven point in units?b. What is the breakeven point in sales dollars?3. Answer the following questions about target profit analysis and safety margin:a. How many units must the company sell in order to earn a profit of $48,000?b. What is the current margin of safety in units?c. What is the margin of safety in sales dollars?d. What is the margin of safety in percentage?

Breakeven is the point at which an entity is in a situation of no profit and no loss. At this point…

Answered: Ruby Company manufactures and sells a…

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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The annual data that follows pertain to See It, a manufacturer of swimming goggles (the company had no beginning inventory): Sales price. . . . . . . . . . . . . . . . . . . . . . . . . $49 Variable manufacturing expense per unit. . $17 Sales commission expense per unit. . . . . . $9 Fixed manufacturing overhead. . . . . . . . . . $1,980,000 Fixed operating expenses. . . . . . . . . . . . . . $245,000 Number of goggles produced. . . . . . . . . . . 220,000 Number of goggles sold. . . . . . . . . . . . . . . 200,000 Requirements: 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for See It for the year. 2. Which statement shows the higher operating income? Why? 3. The company marketing vice president believes a new sales promotion that costs $150,000 would increase sales to 220,000 goggles. Should the company…
Hill & Scott Company makes financial calculators. During the current year, Hill & Scott manufactured 106,700 financial calculators. Finished goods inventory had the following units on hand: January 1 1,386 units December 31 1,144 units How many financial calculators did Hill & Scott sell during the year? Group of answer choices
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The Corporation produces and markets two types of electronic Model and Model The following were gathered on activities during the third quarter Sales in units model 4A 5300 model 5A 3150 Sales price per unit model 4A $130 model 5A $230 Variable production costs per unit model 4A $26 model 5A $49 Traceable fixed production costs model 4A $203000 model 5A 303000 Variable selling expenses per unit model 4A $13 model 5A $15 Traceable fixed setting expenses model 4 A $11500 model 5A $16500 Allocated portion of corporate expenses model 4A $122000 model 5A $ 126000 Required: Prepare a segmented income statement for last quarter The statement should provide sufficient detail to allow the company to evaluate the performance of the manager of each product line.
The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required 1 Required 2 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit? Amount $ 1,540,000 $ 440 $ 48 Complete this question by entering your answers in the tabs below. Required 3 What was the contribution margin per unit? Note: Round your final answer to nearest whole dollar. Contribution margin per unit $ 17 $ 130,000 $ 115,000 $ 65,000 $ 120,000 $ 305,000
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