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…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

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Problem 10EA: This cost data from Hickory Furniture is for the year 2017. Using the high-low method, express the...

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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