Predicting Cost Behavior, Calculating Contribution Margin and Contribution Margin Ratio, Calculating Profit
CoverUp, Inc., produces one model of seat cover. Partial information for the company follows:
Cost Data | |||
Number of seat covers produced and sold | 1,500 | 1,700 | 2,100 |
Total costs |
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|
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Variable costs | $ ? | $ ? | $15,750 |
Fixed costs per year | ? | ? | ? |
Total costs | ? | ? | ? |
Cost per unit |
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|
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Variable cost per unit | ? | ? | ? |
Fixed cost per unit | ? | ? | ? |
Total cost per unit | $31.00 | ? | ? |
Required:
1. Complete CoverUp’s cost data table.
2. Calculate CoverUp’s contribution margin ratio and its total contribution margin at each sales level indicated in the cost data table assuming the company sells each cover for $30.
3. Calculate profit at each of the sales levels assuming a sales price of $30.
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