IAM OFFERING ALOT OF POINTS SO PLEASE ANSWER THEM CORRECTLY WITHEXPLANATIONS
Shown here is an income statement in the traditional format for afirm with a sales volume of 16,500 units:
Revenues $ 181,500 Cost of goods sold ($10,500 + $2.85/unit) 57,525
Gross profit $ 123,975 Operating expenses: Selling ($2,250 +$1.00/unit) 18,750 Administration ($4,600 +$.35/unit) 10,375
Operating income $ 94,850
Prepare an income statement in the contribution margin format.(Omitthe "$" sign in your response.)
(IN CASE THE DROP DOWN BOXES DONTDISPLAY THE INFO. OR PROPERLY..the first box is revenues and iscorrect
I got all of the drop down boxescorrect..they are as follows: box2 cost of good sold box3 selling expenses box 4 administrativeexpenses box 5 under dixed expenses cost of goodsold box 6 administrative expensesbox7 selling expenses box8 undertotal fixed is operating income. SO NOW JUST NEED THENUMBERS/amounts (for requirement 3 and 4 the drop down for all areoperating income)
1. revenues $__________
VARIABLE EXPENSES:
2. Cost of goods sold$_____________
3. selling expenses$_____________
4. administrative expenses$_________
TOTAL VARIABLE EXPENSES:__________
CONTRIBUTION MARGIN:__________
FIXED EXPENSES:
5.cost of good sold $_______
6. administative expenses$__________
7. selling expenses
TOTAL FIXED EXPENSES:_______
OPERATING INCOME$____________
Calculate the contribution margin per unit and the contributionmargin ratio. (Round your answers to 2 decimal places. Omit the "$" and "%" signsin your response.)
Contribution margin per unit $ Contribution margin ratio %
Requirement 3: (a) Calculate the firm's operating income (or loss) if the volumechanged from 16,500 units to 21,500 units.(Donot round your intermediate calculations. Input the amount aspositive value. Omit the "$" sign in your response.)
OPERATING INCOME $__________
(b) Calculate the firm's operating income (or loss) if the volumechanged from 16,500 units to 8,500 units.(Donot round your intermediate calculations. Input the amount aspositive value. Omit the "$" sign in your response.)
OPERATINGINCOME$__________
Requirement 4: Refer to your answer to requirement 1 when total revenues were$181,500. (a) Calculate the firm's operating income (or loss) if unit sellingprice and variable expenses do not change, and total revenuesincrease by $14,500. (Do not round your intermediate calculations. Input the amount aspositive value. Round your answer to the nearest dollar amount.Omit the "$" sign in your response.)
OPERATINGINCOME$___________
(b) Calculate the firm's operating income (or loss) if unit sellingprice and variable expenses do not change, and total revenuesdecrease by $7,500. (Do not round your intermediate calculations. Input the amount aspositive value. Round your answer to the nearest dollar amount.Omit the "$" sign in your response.)
OPERATING INCOME$__________
| IAM OFFERING ALOT OF POINTS SO PLEASE ANSWER THEM CORRECTLY WITHEXPLANATIONS Shown here is an income statement in the traditional format for afirm with a sales volume of 16,500 units: |
| Revenues | $ | 181,500 | |
| Cost of goods sold ($10,500 + $2.85/unit) | 57,525 | ||
| Gross profit | $ | 123,975 | |
| Operating expenses: | |||
| Selling ($2,250 +$1.00/unit) | 18,750 | ||
| Administration ($4,600 +$.35/unit) | 10,375 | ||
| Operating income | $ | 94,850 | |
| |
Prepare an income statement in the contribution margin format.(Omitthe "$" sign in your response.) |
(IN CASE THE DROP DOWN BOXES DONTDISPLAY THE INFO. OR PROPERLY..the first box is revenues and iscorrect
I got all of the drop down boxescorrect..they are as follows: box2 cost of good sold box3 selling expenses box 4 administrativeexpenses box 5 under dixed expenses cost of goodsold box 6 administrative expensesbox7 selling expenses box8 undertotal fixed is operating income. SO NOW JUST NEED THENUMBERS/amounts (for requirement 3 and 4 the drop down for all areoperating income)
1. revenues $__________
VARIABLE EXPENSES:
2. Cost of goods sold$_____________
3. selling expenses$_____________
4. administrative expenses$_________
TOTAL VARIABLE EXPENSES:__________
CONTRIBUTION MARGIN:__________
FIXED EXPENSES:
5.cost of good sold $_______
6. administative expenses$__________
7. selling expenses
TOTAL FIXED EXPENSES:_______
OPERATING INCOME$____________
Calculate the contribution margin per unit and the contributionmargin ratio. (Round your answers to 2 decimal places. Omit the "$" and "%" signsin your response.) |
| Contribution margin per unit | $ |
| Contribution margin ratio | % |
| Requirement 3: | |
| (a) | Calculate the firm's operating income (or loss) if the volumechanged from 16,500 units to 21,500 units.(Donot round your intermediate calculations. Input the amount aspositive value. Omit the "$" sign in your response.) |
OPERATING INCOME $__________
| (b) | Calculate the firm's operating income (or loss) if the volumechanged from 16,500 units to 8,500 units.(Donot round your intermediate calculations. Input the amount aspositive value. Omit the "$" sign in your response.) |
OPERATINGINCOME$__________
| Requirement 4: | |
| Refer to your answer to requirement 1 when total revenues were$181,500. | |
| (a) | Calculate the firm's operating income (or loss) if unit sellingprice and variable expenses do not change, and total revenuesincrease by $14,500. (Do not round your intermediate calculations. Input the amount aspositive value. Round your answer to the nearest dollar amount.Omit the "$" sign in your response.) |
OPERATINGINCOME$___________
| (b) | Calculate the firm's operating income (or loss) if unit sellingprice and variable expenses do not change, and total revenuesdecrease by $7,500. (Do not round your intermediate calculations. Input the amount aspositive value. Round your answer to the nearest dollar amount.Omit the "$" sign in your response.) |
OPERATING INCOME$__________
