Question

i Data Table - X Bountiful Bean Coffee Contribution Margin Income Statement Month Ended July 31 ig Sales revenue 144,000 e Le
P7-66A (similar to) Question Heps The contributon margin income statement of Bountiful Bean Collee for July followrs ECck the
Prepare a summary contribution margin income statement to prove your answer above. (Complete all answer boxes For amounts wit
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer to Requirement 2.

Small Large Total
Sales Revenue 54,000 30,000 84,000
Less: Variable Expenses 27,000 15,000 42,000
Contribution Margin 27,000 15,000 42,000
Less: Fixed Expenses 42,000
Operating Income 0

Calculation:

Revenue, Small = 18,000 * $3.00 = $54,000

Revenue, Large = 6,000 * $5.00 = $30,000

Variable Expense, Small = 18,000 * $1.50 = $27,000

Variable Expense, Large = 6,000 * $2.50 = $15,000

Add a comment
Know the answer?
Add Answer to:
i Data Table - X Bountiful Bean Coffee Contribution Margin Income Statement Month Ended July 31...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • 4. The contribution margin income statement of Bountiful Bean Coffee for February follows: Bountiful Bean Coffee...

    4. The contribution margin income statement of Bountiful Bean Coffee for February follows: Bountiful Bean Coffee Contribution Margin Income Statement For the Month Ended February 29 Sales revenue $85,000 Variable expenses Cost of goods sold $28,000 Marketing expense 9,000 General and administrative expense 3,000 40,000 Contribution margin 45,000 Fixed expenses: Marketing expense 12,375 2,625 15,000 General and administrative expense $30,000 Operating income Coffee sells three small coffees for every large coffee. A small coffee sells for $2.00, with a variable...

  • Requirement 1. Determine the coffee​ shop's monthly breakeven point in the numbers of small coffees and...

    Requirement 1. Determine the coffee​ shop's monthly breakeven point in the numbers of small coffees and large coffees. Prove your answer by preparing a summary contribution margin income statement at the breakeven level of sales. Show only two categories of​ expenses: variable and fixed. Begin by identifying the formula to compute the total breakeven point in units.​ (Abbreviations used: avg.​ = Average; CM​ = Contribution​ margin.) ( Fixed expenses + Operating income ) / ▼ = Breakeven sales in units...

  • I need assistance with requirements 3,4 and 5, please. The contribution margin income statement of Unique...

    I need assistance with requirements 3,4 and 5, please. The contribution margin income statement of Unique Donuts for August 2018 follows: E: (Click the icon to view the contribution margin income statement.) Unique sells four dozen plain donuts for every dozen custard-filled donuts. A dozen plain donuts sells for $4.00, with total variable cost of $1.60 per dozen. A dozen custard-filled donuts sells for $7.00, with total variable cost of $2.80 per dozen. Read the requirements. Data Table Requirement 1....

  • Countrywide Travel uses the contribution margin income statement internally. Countrywide's first quarter result...

    Countrywide Travel uses the contribution margin income statement internally. Countrywide's first quarter results are as follows: (Click the icon to view the income statement.) Countrywide's relevant range is sales of between $140,000 and $690,000 Read the requirements Prepare contribution margin income statements at sales levels of $170,000 and $400,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars. Countrywide Travel Contribution Margin Income Statement Three Month. Er Jed March 31 Sales revenue 425,000 Less: Variable expenses 85,000...

  • CountrywideCountrywide Travel uses the contribution margin income statement internally. Countrywide'sCountrywide's first quarter results are as​ follows:...

    CountrywideCountrywide Travel uses the contribution margin income statement internally. Countrywide'sCountrywide's first quarter results are as​ follows: LOADING... ​(Click the icon to view the income​ statement.) Countrywide'sCountrywide's relevant range is sales of between $ 140 comma 000$140,000 and $ 640 comma 000$640,000. Read the requirements LOADING... . Requirement 1. Prepare contribution margin income statements at sales levels of $ 210 comma 000$210,000 and $ 390 comma 000$390,000. ​(​Hint: Use the contribution margin​ ratio.)Begin by preparing the contribution margin income statement at...

  • Global Travel uses the contribution margin income statement internally. Global's first quarter results are as follows:...

    Global Travel uses the contribution margin income statement internally. Global's first quarter results are as follows: (Click the icon to view the income statement.) Global's relevant range is sales of between $130,000 and $640,000. Read the requirements Requirement 1. Prepare contribution margin income statements at sales levels of $250,000 and $440,000. (Hint: Use the contribution margin ratio) Begin by preparing the contribution margin income statement at the $250,000 level. (Round the variable expense rate to the nearest whole percent. Enter...

  • The contribution margin income statement of Sweet Pea Donuts for August 2018 follows: (Click the icon...

    The contribution margin income statement of Sweet Pea Donuts for August 2018 follows: (Click the icon to view the contribution margin income statement.) Sweet Pea sells four dozen plain donuts for every dozen custard-filled donuts. A dozen plain donuts sells for $4.00, with total variable cost of $1.60 per dozen. A dozen custard-filled donuts sells for $8.00, with total variable cost of $3.20 per dozen. Read the requirements Requirement 1. Calculate the weighted average contribution margin. (Round all currency amounts...

  • Northern Travel uses the contribution margin income statement internally. Northern's first quarter results are as​ follows:...

    Northern Travel uses the contribution margin income statement internally. Northern's first quarter results are as​ follows: Northern Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue $525,000 Less: Variable expenses 210,000 Contribution margin $315,000 Less: Fixed expenses 172,200 Operating income $142,800 Northern's relevant range is sales of between $ 140 comma 000 and $ 660 comma 000. 1. Prepare contribution margin income statements at sales levels of $ 250 comma 000$250,000 and $ 450 comma 000$450,000. ​(​Hint:...

  • Below is an incomplete contribution margin income statement for Barry's Coffee Cakes. Use this information to...

    Below is an incomplete contribution margin income statement for Barry's Coffee Cakes. Use this information to answer the following questions. BARRY'S COFFEE CAKES Contribution Margin Income Statement 20,000 units 25,000 units Total Percents of Sales Per Unit Sales revenue Less: Variable costs Contribution margin Less: Fixed costs Net operating income Total $150,000 se.000 100,000 30.000 $ 70,000 LI 1 Knowledge Check 01 What is the unit contribution margin? $7.50 $2.50 $5.00 $3.00 Knowledge Check 02 What is the contribution margin...

  • Universal Travel uses the contribution margin income statement internally. Universal's first quarter results are as​ follows:...

    Universal Travel uses the contribution margin income statement internally. Universal's first quarter results are as​ follows: LOADING...​(Click the icon to view the income​ statement.) Universal's relevant range is sales of between $ 105 comma 000 and $ 650 comma 000. Read the requirementsLOADING.... Requirement 1. Prepare contribution margin income statements at sales levels of $ 180 comma 000 and $ 420 comma 000. ​(​Hint: Use the contribution margin​ ratio.) Begin by preparing the contribution margin income statement at the $...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT