Homework Answers
| 2017 | 2018 | |
| Sales | 551,000 | 667,000 |
| Less: Variable costs | 220,400 | 266,800 |
| Contribution Margin | 330,600 | 400,200 |
| Less: Fixed expenses | 226,200 | 254,040 |
| Income before tax | 104,400 | 146,160 |
| Less: Income tax | 41,760 | 58,464 |
| Net income | 62,640 | 87,696 |
| 1. Projected Net Income = $62,640 | ||
| 2.Break even units = fixed costs/Contribution margin per unit | 13,000.0 | units |
| 3.Net Income = $87,696 | ||
| 4.Break even | 14,600.0 | units |
| 5.Required revenue = (Desired profit+Fixed costs)/CM Ratio | ||
| CM Ratio = CM/Sales | 60% | |
| Hence, required revenue | 527,800 | |
| 6.Maximum amount on advertising = Contribution margin - Desired Income before tax- Current Fixed costs | 28,090 |
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