Complete the table below for contribution margin per unit, total contribution margin, and contribution margin ratio:(Round your answers to two decimal places when needed and use rounded answers for all future calculations). UnitsNumber of unitsSales price per unitVariable costs per unitCalculate:Contribution margin per unit ($)Total Contribution margin ($)Contribution margin ratio (%)1,440$1,230$630A2,140$710$410B1,110$3,270$2,170с

Contribution Margin per Unit: Contribution margin per unit is the amount of profit a product or…

Units Number of units Sales price per unit Variable costs per unit Calculate: Contribution margin per unit ($) Total Contribution margin ($) Contribution margin ratio (%) 1,440 $1,230 $630 A 2,140 $710 $410 B 1,110 $3,270 $2,170 с

Units Number of units Sales price per unit Variable costs per unit Calculate: Contribution margin per unit ($) Total Contribution margin ($) Contribution margin ratio (%) 1,440 $1,230 $630 A 2,140 $710 $410 B 1,110 $3,270 $2,170 с

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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1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this: 1 2 3 Data 4 Sales Variable costs: 5 67 00 8 A Chapter 1: Applying Excel 9 10 11 Cost of goods sold Variable selling Variable administrative Fixed costs: Fixed selling Fixed administrative $ $ $ $ $ $ B 32,000 16,000 1,600 1,400 2,500 1,500
10 Ritchie Manufacturing Company makes a product that it sells for $160 per unit. The company incurs variable manufacturing costs of $84 per unit. Variable selling expenses are $12 per unit, annual fixed manufacturing costs are $470,000, and fixed selling and administrative costs are $208,400 per year. Required Determine the break-even point in units and dollars using each of the following approaches: Skipped a. Use the equation method. b. Use the contribution margin per unit approach. c. Use the contribution margin ratio approach. d. Prepare a contribution margin income statement for the break-even sales volume.
Please explain what is meant by the contribution margin. Also, please provide an example of how the contribution margin ratio is calculated and how the unit contribution margin is calculated.