Homework Answers
Answer
| Case 1 | Case 2 | |
| Sales | $ 220,000 | $ 450,000 |
| Variable Cost | $ 77,000 | $ 337,500 |
| Fixed Cost | $ 143,000 | $ 75,000 |
| Net Income | $ - | $ 37,500 |
| Contribution margin ratio | 65% | 25% |
Calculations: (Amount in dollars)
| Case 1 | Case 2 | |
| Sales | 220000 | =337500+75000+37500 |
| Variable Cost | =220000*(1-0.65) | 337500 |
| Fixed Cost | =220000-77000-0 | 75000 |
| Net Income | 0 | 37500 |
| Contribution margin ratio | 0.65 | =(75000+37500)/450000 |
Formulae used:
| Sales |
| Less: variable Cost |
| = Contribution |
| Less: Fixed Cost |
| = Net Income |
Contribution Ratio = Contribution / Sales *100
In case of any doubt, please comment.
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to prepare a contribution format income statement for each case,
enter the known data, and then compute the missing items.)
Required: a. Assume that only one product is being sold in each of
the four following case situations: b. Assume that more than one
product is being sold in each...
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