Waterman's WaterWorld Tourist Park has collected the following data for operations for the year:$ 2,000,000$ 546,875Total revenuesTotal fixed costsTotal variable costsTotal tickets sold$ 1,125,00050,000Required:a. What is the average selling price for a ticket?b. What is the average variable cost per ticket?Note: Round your final answer to 2 decimal places.c. What is the average contribution margin per ticket?Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.d. What is the break-even point?Note: Do not round intermediate calculations.e. Waterman's management has decided that unless the operation can earn at least $140,000 in operating profits, they will close itdown. What number of tickets must be sold for Waterman's to make a $140,000 operating profit for the year on ticket sales?Note: Do not round intermediate calculations.a. Average selling priceb. Average variable costc. Average contribution margind. Break-even pointe. Number of ticketsper ticketper ticketper ticketticketstickets

MARGINAL COSTING INCOME STATEMENTMarginal Costing Income Statement is one of the Important Cost…

Answered: Waterman's WaterWorld Tourist Park has…

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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Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below: Sales Variable expenses Contribution margin Fixed expenses Net operating income Claimjumper $ 120,000 44,200 $ 75,800 Makeover $ 60,000 9,800 $ 50,200 Required: 1. What is the overall contribution margin (CM) ratio for the company? Total $ 180,000 54,000 126,000 82,320 $ 43,680 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products.
Philippine Island Tours has incurred the following bus maintenance costs during the recent tourist season. Answer the following: Using the high-low method, determine which month is the highest? Using the high-low method, determine which month is the lowest? Using the high-low method, determine the variable cost per tour mile traveled. (Use this format 0..123) Using the high-low method, determine fixed cost per month (Use this format 10,000) Using the high-low method Develop a formula to express the cost behavior exhibited by the company’s maintenance cost. (Use this format Y=2a+10) Using the high-low method, predict the level of maintenance cost that would be incurring during the month of May when 34,000 tour miles are driven. (Use this format 10,000)
Feather Friends, Incorporated, distributes a high-quality wooden birdhouse that sells for $40 per unit. Variable expenses are $20.00 per unit, and fixed expenses total $200,000 per year. Its operating results for last year were as follows: Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 1,000,000 500,000 500,000 200,000 $ 300,000 Required: Answer each question independently based on the original data: 1. What is the product's CM ratio?
Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below: Sales Variable expenses Contribution margin Fixed expenses Net operating income Claimjumper $ 106,000 26,440 $ 79,560 Makeover $ 53,000 5,360 $ 47,640 Total $ 159,000 31,800 127,200 94,080 $ 33,120 Required: 1. What is the overall contribution margin (CM) ratio for the company? 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products.
Sheridan Bucket Co., a manufacturer of rain barrels, had the following data for 2021: Sales quantity Unit selling price Unit variable costs Fixed costs (a) 2,200 barrels $75 per barrel $45 per barrel $18,480 What is the contribution margin ratio? Contribution margin ratio %
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Recent monthly costs of providing on-board flight service incurred by Great Plains Airlines are shown in the following table: Month Number of passengers Cost of On-Board Flight Service January 16,000 17,000 February 16,500 18,000 March 18,000 20,000 April 14,000 18,000 Required: a) Use the high-low method to estimate the variable cost per passenger and the fixed cost per month. Show your calculations.
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The cost of a window air conditioner was $420 and had a markup on cost percentage of 45%. During a spring promotion, the selling price was reduced by $70. The required overheads and operating profit for the air conditioner are 35% and 10% of cost respectively For full marks your answer(s) should be rounded to the nearest cent. a) What is the regular selling price? Regular price = $ 0.00 b) What is the profit (loss) at the sale price? Profit on sale price = $ 0.00 c) What is the break-even price? Break-even price = $ 0.00
The Cumberland Company provides the following information: Sales (250,000 units) Manufacturing costs: Variable Fixed Selling and administrative costs: Variable Fixed $625,000 212,500 37,500 100,000 25,000 5. What is the contribution margin ratio for Cumberland? 6. What is the total contribution margin for Cumberland? 7. What is the operating income for Cumberland? 8. What is the break-even point in sales dollars for Cumberland?
Current operating income for Bay Area Cycles Company is $26,000. Selling price per unit is $100, the contribution margin ratio is 25%, and fixed expense is $104,000. Required: 1. Calculate Bay Area Cycle's per unit variable expense and contribution margin. How many units are currently being sold? 2. How many additional unit sales would be necessary to achieve operating income of $65,000? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Bay Area Cycle's per unit variable expense and contribution margin. How many units are currently being sold? Revenue Variable expense Contribution margin Fixed expense Operating income $ Per Unit 100.00 Volume

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