Homework Answers
C. $100,000
Contribution margin = Sales revenue - Variable costs = $500,000 - $150,000 - $100,000 = $250,000
Contribution margin ratio = Contribution margin / Sales revenue = $250,000 / $500,000 = 0.50 or 50%
Break-even sales = Fixed costs / Contribution margin ratio = ($150,000 + $50,000) / 0.50 = $400,000
Margin of safety = Actual sales - Break-even sales
Margin of safety = $500,000 - $400,000
Margin of safety = $100,000
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Carney's current income statement shows the following: $500,000 Sales revenue Cost of goods sold Variable costs...
Question 1 1 pts Carney's current income statement shows the following: $500,000 Sales revenue Cost of...
Question 1 1 pts Carney's current income statement shows the following: $500,000 Sales revenue Cost of goods sold Variable costs Fixed costs Gross profit Selling and administrative expenses Variable costs Fixed costs $150,000 150,000 300,000 200,000 100,000 50,000 150,000 $50,000 Net income What is Carney's margin of safety? $125,000 $100,000 $50,000 $166,667 Question 2 1 pts Truman Company has developed a new gadget with the following cost information Variable manufacturing costs: $25 per unit Fixed manufacturing costs: $60,000 Variable selling...
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We also know the break-down into fixed and variable costs for
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Chapter 2: Applying Excel Data Sales $12,000 Variable costs: Cost of goods sold Variable selling $6,000 $600 $400 Variable administrative Fixed costs: Fixed selling $2,500 $1,500 Fixed administrative Enter a formula into each of the cells marked with a ? below Exhibit 2-9 Traditional Format Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling Administrative Net operating income Contribution Format Income Statement Sales Variable expenses: Cost of goods sold Variable selling Variable administration Contribution margin...
Prepare a pro forma
income statement for 2015 using the percent-of-sales method. What
is the expected net income?
We also know the break-down into fixed and variable costs for
2014:
Prepare a pro forma income statement for 2015 using the
percent-of-sales method and distinguish between fixed and variable
costs. What is the expected net income?
Intro Income statement for 2014 Line item Sales - COGS = Gross profit - SG&A - Depreciation = Operating profit - Interest = Taxable income...
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