Homework Help is Here – Start Your Trial Now!
Business
Accounting
Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Fixed Budget Report For Year Ended December 31, 2019 Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 15,000 s (in units) tribution margin (per unit) tribution margin costs ating income (loss) 12,000 $975,000 225,000 60,000 300,000 195,000 200,000 1,955,000 1,045,000 75,000 105,000 250,000 $3,000,000 125,000 241,000 90,000 unfavorable change in business is remotely possible; in this case, production and sales volume for the year could fall to 12,00 How much income (or loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus sign.) 430,000 456,000 $ 159,000

Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Fixed Budget Report For Year Ended December 31, 2019 Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 15,000 s (in units) tribution margin (per unit) tribution margin costs ating income (loss) 12,000 $975,000 225,000 60,000 300,000 195,000 200,000 1,955,000 1,045,000 75,000 105,000 250,000 $3,000,000 125,000 241,000 90,000 unfavorable change in business is remotely possible; in this case, production and sales volume for the year could fall to 12,00 How much income (or loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus sign.) 430,000 456,000 $ 159,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please do not give solution in image format thanku 

Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Fixed Budget Report For Year Ended December 31, 2019 Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 15,000 Sales (in units) Contribution margin (per unit) Contribution margin Fixed costs Operating income (loss) $975,000 225,000 60,000 12,000 300,000 195,000 200,000 75,000 105,000 250,000 125,000 241,000 90,000 $3,000,000 4. An unfavorable change in business is remotely possible; in this case, production and sales volume for the year could fall to 12,000 units. How much income (or loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus sign.) 1,955,000 1,045,000 430,000 456,000 $ 159,000
Transcribed Image Text:Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Fixed Budget Report For Year Ended December 31, 2019 Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 15,000 Sales (in units) Contribution margin (per unit) Contribution margin Fixed costs Operating income (loss) $975,000 225,000 60,000 12,000 300,000 195,000 200,000 75,000 105,000 250,000 125,000 241,000 90,000 $3,000,000 4. An unfavorable change in business is remotely possible; in this case, production and sales volume for the year could fall to 12,000 units. How much income (or loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus sign.) 1,955,000 1,045,000 430,000 456,000 $ 159,000
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Financial Reporting in Hyperinflationary Economies
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS