Question

Countrywide Travel uses the contribution margin income statement internally. Countrywides first quarter results are as follo
Prepare contribution margin income statements at sales levels of $170,000 and $400,000. (Hint: Use the contribution margin ra
Countrywide Travel Contribution Margin Income Statement Three Month. Er Jed March 31 Sales revenue 425,000 Less: Variable exp
Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Le
Requirement 2. Compute breakeven sales in dollars. Begin by identifying the formula to compute the breakeven sales in dollars
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Contribution margin ratio = $340,000/$425,000 = 80% Variable costs = 100%-80% = 20%

Α 1 Sales level of $170,000: Countrywide Travel 3 Contribution margin income statement 4 Three month ended March 31 5 Sales r

1 Sales level of $170,000: 2 Countrywide Travel 3 Contribution margin income statement 4 Three month ended March 31 5 Sales r

(Fixed expenses +0 )/Contribution margin ratio = Breakeven sales in dollars $170,000/80% = $212,500 The breakeven sales in do

Add a comment
Know the answer?
Add Answer to:
Countrywide Travel uses the contribution margin income statement internally. Countrywide's first quarter result...
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
  • 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...

  • 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:...

  • 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: (Click the icon to view the income statement) Northern's relevant range is sales of between $150,000 and $650,000. Read the requirements Northern Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue 180000 Less Variable expenses Contribution margin 172,200 Less: Fixed expenses Operating income (loss) mework: Homework Chapter 7 (MODULE 3) Save e: 0 of 1 pt HW Score: 0%, 0 of...

  • 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 $...

  • Pluto Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue $318,500...

    Pluto Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales Revenue $318,500 Variable Costs 111,475 Contribution Margin 207,025 Fixed Costs 170,000 Operating Income $37,025 For its top​ managers, Pluto Travel formats its income statement as​ follows: Pluto's relevant range is between sales of $256,000 and $362,000. 1. Calculate the contribution margin ratio. 2. Prepare two contribution margin income​ statements: one at the $256,000 sales level and one at the $362,000 sales level. ​(Hint​: The proportion of...

  • Computer Accessories Pro Forma Contribution Margin For the year ending December 31, 2019 Second First Quarter...

    Computer Accessories Pro Forma Contribution Margin For the year ending December 31, 2019 Second First Quarter Quarter $352,000 $286,000 Fourth Third Quarter Quarter $319,000 $440,000 Annual Total $1,397,000 Sales Revenue Less Variable Costs: Cost of Goods sold Selling and Administrative expenses Total Variable costs $249,600 $19,200 $268,800 $202,800 $15,600 $218,400 $226,200 $17,400 $243,600 $24,000 $336,000 $990,600 $76,200 $1,066,800 Contribution margin $83,200 $67,600 $75,400 $104,000 $330,200 Less Fixed Costs: Manufacturing Overhead Selling and Administrative Expenses Total Fixed Costs Net Income $40,000...

  • i Data Table - X Bountiful Bean Coffee Contribution Margin Income Statement Month Ended July 31...

    i Data Table - X Bountiful Bean Coffee Contribution Margin Income Statement Month Ended July 31 ig Sales revenue 144,000 e Less variable expenses: Cost of goods sold 57,500 00 Marketing expense 10,000 50 4,500 72,000 General and administrative expense 50 Contribution margin 72,000 Less fixed expenses: 33,600 Marketing expense 50 8,400 42,000 General and administrative expense S 30,000 Operating income S O Done Print nsv P7-66A (similar to) Question Heps The contributon margin income statement of Bountiful Bean Collee...

  • 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...

  • 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....

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