Homework Answers
Answer :
19.2B
(a).
|
All Frute Company CVP Income Statement (Estimated) For the Year Ending December 31.2008 |
||
| Net sales | $2,500,000 | |
| Variable expenses | ||
| Cost of goods sold | $1,080,000 | |
| Selling Expenses | 80,000 | |
| Administrative expenses | 40,000 | |
| Total variable expenses | 1,200,000 | |
| Contribution margin | 1,300,000 | |
| Fixed expenses | ||
| Cost of goods sold | 380,000 | |
| Selling expenses | 250,000 | |
| Administrative expenses | 150,000 | |
| Total fixed expenses | 780,000 | |
| Net income | $520,000 | |
| Direct materials $360,000 + Direct labor $450,000 + Variable manufacturing overhead $270,000 | ||
(b). Variable cost = 48% of sales ($1,200,000 + $2,500,000) or $0.24 per bottle ($0.50 * 48%). Total fixed costs = $780,000.
(1). $0.50X = $0.24X + $780,000
$0.26X = 780,000
X = 3,000,000 units
(2). 3,000,000 X $0.50 = $1,500,000
(c). Contribution margin ratio = ($0.50 - $0.24) + $0.50
= 52% (or 1 - 0.48)
Margin of safety ratio = ($2,500,000 - $1,500,000) + $2,500,000
= 40%
(d). Required sales
X = (780,000+624,000)/0.52 = $2,700,000
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