Sophie Inc. is showing the following expected results for the sale of her dance book: Expected Sales Units Sales Total variable costs Contribution margin 3,000 $120,000 $72,000 $48,000 Total fixed costs Operating income Using the above information answer the following questions. $9,000 $39,000 What is the contribution margin ratio? HINT: remember the entry rules for percentages. What is the break-even in sales dollars?

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APPLY THE CONCEPTS: Target income (sales revenue) Another useful method for figuring out the type of performance your company will need to reach a target income is by using sales revenue. Rather than using the number of units, this method uses total sales revenue. In companies for which the total set of goods produced and sold is more varied, this would be the preferred method, as opposed to a business in which only one product is sold. Assume a company has pricing and cost information as follows: Price and Cost Information Amount Selling Price per Unit $30 Variable Cost per Unit $15 Total Fixed Cost $15,000 For the upcoming period, the company wishes to generate operating income of $40,000. Given the cost and pricing structure for the company's product, how much sales revenue must it generate to attain its target income? Step 1: Calculate the contribution margin ratio: The contribution margin ratio is the contribution margin in proportion to the selling price on a per-unit basis.…

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