Solve for the missing amounts for the following separate cases.Case123Sales price perunit$20Variable costsper unit$1630Contributionmargin per unit1050Contributionmargin ratio20%

Income statement is one of the financial statements that shows the profitability, total revenue and…

Answered: Solve for the missing amounts for the…

Solve for the missing amounts for the following separate cases. Case 1 2 3 Sales price per Variable costs unit per unit $20 $16 30 Contribution margin per unit 10 50 Contribution margin ratio 20%

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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Question

Solve for the missing amounts for the following separate cases.
Case
1
2
3
Sales price per
unit
$20
Variable costs
per unit
$16
30
Contribution
margin per unit
10
50
Contribution
margin ratio
20%

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Step 1: Introduce to income statement

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Step 2: Working for contribution margin per unit and contribution margin ratio for case 1

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Step 3: Working for sales price per unit and contribution margin ratio for case 2

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Step 4: Working for sales price per unit and variable cost per unit for case 3

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