Can I get some help on this break even point in units? Thank you! **Instructional Text for Educational Website**---**Break-Even Contribution Margin Income Statement Task****Objective: Understanding Contribution Margin Income Statements**In this task, you are required to prepare a contribution margin income statement to ascertain the break-even sales volume for a hypothetical company.**Step-by-Step Instructions:**1. **Complete the Information:** You will complete the required data entries in the tabs provided below the question.2. **Focus on Structured Statements:** Specifically, you are to prepare a Contribution Margin Income Statement for "The Emporium Company."3. **Break-Even Sales Volume:** Ensure that the income statement you prepare accurately reflects the break-even sales volume.**Template Provided:**Below is the table structure you will use for The Emporium Company:**THE EMPORIUM COMPANY** **Contribution Margin Income Statement**| **Description** | ||----------------------------|-------------|| **Sales** | $ || **- Variable Expenses** | $ || **Contribution Margin** | $ || **- Fixed Expenses** | $ || **Net Income** | $ |**Navigation:**- Use the buttons labeled "Req A to B" and "Req C" to switch between different sections and questions related to this task.**Clarifications:**- **Sales:** Total revenue generated from sales.- **Variable Expenses:** Costs that vary with the level of production or sales.- **Contribution Margin:** Sales revenue minus variable expenses; this margin contributes to covering fixed expenses and generating profit.- **Fixed Expenses:** Costs that remain constant regardless of the level of production or sales.- **Net Income:** The final profit made after deducting all expenses from the sales.**Interactive Elements:**- These include navigational buttons "Req A to B" and "Req C" to move through different requirements of the task.**Purpose:**The purpose of this exercise is to help you understand how to calculate and interpret a contribution margin income statement, and specifically, how to determine the break-even point for a company.---*This exercise aims to build proficiency in financial statement preparation, a crucial skill for aspiring finance and accounting professionals.* ### Emporium Company Break-Even Point AnalysisThe Emporium Company manufactures collectible trading pins, which are sold at $180 per unit. The variable costs associated with manufacturing these pins are as follows:- **Variable manufacturing costs:** $79 per unit- **Variable selling expenses:** $20 per unitAdditionally, the company incurs annual fixed costs:- **Fixed manufacturing costs:** $500,000- **Fixed selling and administrative costs:** $245,200#### Required AnalysisDetermine the break-even point in both units and dollars using the following methods:1. **Equation Method**2. **Contribution Margin Per Unit Approach**3. **Contribution Margin Income Statement for Break-Even Sales Volume**##### Instructions for CompletionComplete the analysis by entering your answers within the provided fields or tabs.#### Break-Even Analysis**Using the Equation Method:**- a. Break-even point in units- b. Break-even point in dollars**Using the Contribution Margin Per Unit Approach:**- 1. Contribution margin per unit- 2. Break-even point in units- 3. Break-even point in dollars**Preparation of a Contribution Margin Income Statement:**- To be completed for break-even sales volume##### Tabular RepresentationThe table below will guide in capturing your inputs:| Requirement | Calculation ||---|---|| a. Break-even point in units | || a. Break-even point in dollars | || b. Contribution margin per unit | || b. Break-even point in units | || b. Break-even point in dollars | |Click the "Req C" tab to continue with the preparation of the Contribution Margin Income Statement for the break-even sales volume.This detailed approach will ensure a comprehensive evaluation of the Emporium Company's break-even point, aiding in financial planning and decision-making.

In equation method, break even point in units is assumed to be 'x' in following equation:…

The Emporium Company makes collectible trading pins that it sells for $180 per unit. The company incurs variable manufacturing costs of $79 per unit. Variable selling expenses are $20 per unit, annual fixed manufacturing costs are $500,000, and fixed selling and administrative costs are $245,200 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation method. b. Use the contribution margin per unit approach. c. Prepare a contribution margin income statement for the break-even sales volume.

The Emporium Company makes collectible trading pins that it sells for $180 per unit. The company incurs variable manufacturing costs of $79 per unit. Variable selling expenses are $20 per unit, annual fixed manufacturing costs are $500,000, and fixed selling and administrative costs are $245,200 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation method. b. Use the contribution margin per unit approach. c. Prepare a contribution margin income statement for the break-even sales volume.

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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cercise 11-5 (Algo) Volume Trade-Off Decisions [LO11-5] utdoor Luggage, Incorporated, makes high-end hard-sided luggage for sports equipment. Data concerning three of the mpany's most popular models appear below. Selling price per unit Variable cost per unit Plastic injection molding machine processing time. required to produce one unit Pounds of plastic pellets per unit S Which product offers the most profitable use of the plastic pellets? Which product has the largest contribution margin per unit? Required 1 Required 2 Complete this question by entering your answers in the tabs below. Required 3 Required 4 quired: f we assume that the total time available on the plastic injection molding machine is the constraint in the production ocess, how much contribution margin per minute of the constrained resource is earned by each product? Which product offers the most profitable use of the plastic injection molding machine? If we assume that a severe shortage of plastic pellets has required…
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