Crane Manufacturing Ltd. has provided you with the following CVP income statement.Sales (1,460 units)Variable costs:Cost of goods soldSelling expensesAdministrative expensesContribution marginFixed costs:Cost of goods soldSelling expensesAdministrative expensesOperating income$1,022,000454,06081,76067,160419, 20153,30052,56033,580$179,580a. Calculate the contribution margin ratio.b. Calculate the break-even point in sales dollars and number of units.

Break even point is where there is no profit and no loss situation and total cost is equal to sales.

Answered: Variable costs: Cost of goods sold…

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter10: Forecasting Financial Statement

Section: Chapter Questions

Problem 12PC

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1. Company ABC produces and sells product X. Using information given below calculate Total Revenue (TR), Average Revenue (AR) and Marginal Revenue (MR).. Solution should be Excel format Quantity Price per product (EUR) Total Revenue (EUR) Average Revenue (EUR) Marginal Revenue (EUR) 1 100 100 100 100 2 95 190 95 90 3 90 270 90 80 4 85 340 85 70 5 80 400 80 60 6 75 450 75 50 7 70 490 70 40 8 65 520 65 30 9 60 540 60 20 10 50 500 50 -40
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4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.) Sales Less: Cost of goods sold Gross profit FIFO LIFO Weighted Average Specific Identification
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Please help fill in the rest of the table on based on Cost-Volume-Profit relationship
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Variable costs: Cost of goods sold Selling expenses Administrative expenses Contribution margin Fixed costs: Cost of goods sold Selling expenses Administrative expenses Operating income 454,060 81,760 67,160 419.20 153,300 52,560 33,580 $179,580