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Sports Inc. manufactures and sells two styles of All Terrain venicies products: Sales price Variable cost of goods sold Manufacturing margin Variable selling expenses Contribution margin Fixed expenses Operating income Conquistador $4,600 (2.900) $1,700 (780) $920 (430) $490 Hurricane $3,000 (2,010) $990 (570) $420 (170) $250

Sports Inc. manufactures and sells two styles of All Terrain venicies products: Sales price Variable cost of goods sold Manufacturing margin Variable selling expenses Contribution margin Fixed expenses Operating income Conquistador $4,600 (2.900) $1,700 (780) $920 (430) $490 Hurricane $3,000 (2,010) $990 (570) $420 (170) $250

FINANCIAL ACCOUNTING
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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Galaxy Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVs), the Conquistador and Hurricane, from a single manufacturing facility. The manufacturing facility operates at 100% of capacity. The following per-unit information is available for the two products: Sales price Variable cost of goods sold Manufacturing margin Variable selling expenses Contribution margin Fixed expenses Sales unit volume Operating income In addition, the following sales unit volume information for the period is as follows: Conquistador Sales Variable cost of goods sold Manufacturing margin ✓ Variable selling expenses ✓ Feedback Conquistador $4,600 (2,900) $1,700 (780) $920 (430) $490 ✓ ✓ Contribution margin Contribution margin ratio✓ a. Prepare a contribution margin by product report. Compute the contribution margin ratio for each product as a whole percent. Galaxy Sports Inc. Contribution Margin by Product 2,600 Hurricane $3,000 (2,010) $990 (570) $420 (170) $250 Conquistador % Hurricane 1,800 Hurricane %
Transcribed Image Text:Galaxy Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVs), the Conquistador and Hurricane, from a single manufacturing facility. The manufacturing facility operates at 100% of capacity. The following per-unit information is available for the two products: Sales price Variable cost of goods sold Manufacturing margin Variable selling expenses Contribution margin Fixed expenses Sales unit volume Operating income In addition, the following sales unit volume information for the period is as follows: Conquistador Sales Variable cost of goods sold Manufacturing margin ✓ Variable selling expenses ✓ Feedback Conquistador $4,600 (2,900) $1,700 (780) $920 (430) $490 ✓ ✓ Contribution margin Contribution margin ratio✓ a. Prepare a contribution margin by product report. Compute the contribution margin ratio for each product as a whole percent. Galaxy Sports Inc. Contribution Margin by Product 2,600 Hurricane $3,000 (2,010) $990 (570) $420 (170) $250 Conquistador % Hurricane 1,800 Hurricane %
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