The condensed income statement for the Kimberly and Matthew partnership for 2022 is as follows. Kimberly and Matthew Company Income Statement For the Year Ended December 31, 2022 Sales (270,000 units) Cost of goods sold Gross profit Operating expenses Selling Administrative Net loss $1,350,000 936,000 414,000 $270,000 156,600 426,600 $(12,600) A cost behavior analysis indicates that 75% of the cost of goods sold are variable and 42% of the selling expenses are variable. Administrative expenses are $94,500 fixed. (a) Compute the break-even point in sales dollars and in sales units for 2022. (Round intermediate calculations to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 2,520.) Break-even point in sales dollars $ Break-even point in units units

The condensed income statement for the Kimberly and Matthew partnership for 2022 is as follows. Kimberly and Matthew Company Income Statement For the Year Ended December 31, 2022 Sales (270,000 units) Cost of goods sold Gross profit Operating expenses Selling Administrative Net loss $1,350,000 936,000 414,000 $270,000 156,600 426,600 $(12,600) A cost behavior analysis indicates that 75% of the cost of goods sold are variable and 42% of the selling expenses are variable. Administrative expenses are $94,500 fixed. (a) Compute the break-even point in sales dollars and in sales units for 2022. (Round intermediate calculations to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 2,520.) Break-even point in sales dollars $ Break-even point in units units

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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