### CVP Income Statement for Blossom Machine Company (2021)#### Blossommachine Company**Income Statement***For the Year Ended December 31, 2021*| **Description** | **Amount** ||-------------------------------|-------------------|| Sales (42,000 units) | $1,050,000 || Variable expenses | $735,000 || Contribution margin | $315,000 || Fixed expenses | $360,000 || Net income (loss) | ($45,000) |#### Independent Questions and Answers##### (a)**Question:** What was the company's break-even sales dollars in 2021?**Answer:**- ✔️ Your answer is correct.- **Break-even point in sales dollars:** $1,200,000##### (b)**Question:** How many additional units would the company have had to sell in 2022 to earn a net income of $45,000?**Answer:**- **Additional units:** ____ *(Note: The answer for part (b) has yet to be provided or calculated.)*#### Diagram ExplanationNo graphs or diagrams are provided in this image. The information strictly comprises a tabular income statement and corresponding text-based questions. For more academic resources and detailed explanations, refer to the eTextbook and Media section for additional learning material and support.

Break even point is the optimum point of No profit no loss as at this point the firm is earning a…

The CVP income statement for Blossom Machine Company for 2021 appears below. BLOSSOMMACHINE COMPANY Income Statement For the Year Ended December 31, 2021 $1,050,000 Sales (42,000 units) Variable expenses Contribution margin Fixed expenses Net income (loss) (a) 735,000 Answer the following independent questions. (b) 315,000 360,000 eTextbook and Media ($45,000) Your answer is correct. What was the company's break-even sales dollars in 2021? Break-even point in sales dollars $ Additional units 1,200,000 How many additional units would the company have had to sell in 2022 to earn a net income of $45,000? Attempts: 3 of 5 used

The CVP income statement for Blossom Machine Company for 2021 appears below. BLOSSOMMACHINE COMPANY Income Statement For the Year Ended December 31, 2021 $1,050,000 Sales (42,000 units) Variable expenses Contribution margin Fixed expenses Net income (loss) (a) 735,000 Answer the following independent questions. (b) 315,000 360,000 eTextbook and Media ($45,000) Your answer is correct. What was the company's break-even sales dollars in 2021? Break-even point in sales dollars $ Additional units 1,200,000 How many additional units would the company have had to sell in 2022 to earn a net income of $45,000? Attempts: 3 of 5 used

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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