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980038955Lv1
13 May 2022
Is there a football club?
Is there a football club?
7
answers
1
watching
160
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Related questions
Complete the multi product contribution margin income statementwith the given information:
Net income earnedduring most recent period: | $ 65,000 | ||||
Contribution marginratio: | 15% | ||||
Fixed costs incurred duringmost recent period: | $ 175,000 | ||||
Statutory tax rate: | 37% | ||||
Operating income generated atbreakeven: | $ - | ||||
Applicable to the FootballDivision | |||||
Selling price perfootball | $ 18.00 | ||||
Total variable cost dollarsincurred by Football Division | $ 952,088 | ||||
Quantity of footballs soldduring most recent period: | 64,000 | ||||
Applicable to the BaseballDivision | |||||
Variable cost perbaseball: | $ 3.24 |
Footballs | Baseballs | Total | |||||||
Total $ | $ per Unit | Sales Ratios | Total $ | $ per Unit | Sales Ratios | Total $ | Sales Ratios* | ||
Revenues | 100% | ||||||||
Variable Costs | $ 952,088 | ||||||||
Contribution Margin | |||||||||
Fixed Costs | |||||||||
Operating income | |||||||||
Income Tax | |||||||||
Net income | |||||||||
Please help, I need to create contribution margin incomestatement at breakeven:
Requirement 3Schedule: |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Footballs | Baseballs | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total $ | $ per Unit | Sales Ratios | Total $ | $ per Unit | Sales Ratios | Total $ | Sales Ratios* | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ 1,152,000 | $ 18.00 | 62% | $ 702,497 | $ 3.65 | 38% | $ 1,854,497.35 | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Variable Costs | $ 952,088 | $ 14.88 | 60% | $ 624,235 | $ 3.24 | 40% | $ 1,576,323 | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution Margin | $ 199,912 | $ 3.12 | 72% | $ 78,263 | $ 0.41 | 28% | $ 278,175 | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Costs | $ 175,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating income | $ 103,175 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax | $ 38,174.60 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | $ 65,000 |
Not sure how to complete this multi production CM incomestatement at breakeven. If you can be detailed inyour answers so I can understand it, that would be awesome! Thanksin advance!
Applicable to thecompany as a whole: | |||||
Net income earned during mostrecent period: | $ 65,000 | ||||
Contribution marginratio: | 15% | ||||
Fixed costs incurred duringmost recent period: | $ 175,000 | ||||
Statutory tax rate: | 37% | ||||
Operating income generated atbreakeven: | $ - | ||||
Applicable to the FootballDivision | |||||
Selling price perfootball | $ 18.00 | ||||
Total variable cost dollarsincurred by Football Division | $ 952,088 | ||||
Quantity of footballs soldduring most recent period: | 64,000 | ||||
Applicable to the BaseballDivision | |||||
Variable cost perbaseball: | $ 3.24 |
Footballs | Baseballs | Total | ||||||
Total $ | $ per Unit | Sales Ratios | Total $ | $ per Unit | Sales Ratios | Total $ | Sales Ratios* | |
Revenues | $ 1,152,000 | $ 18.00 | 62% | $ 702,497 | $ 3.65 | 38% | $ 1,854,497.35 | 100% |
Variable Costs | $ 952,088 | $ 14.88 | 60% | $ 624,235 | $ 3.24 | 40% | $ 1,576,323 | 100% |
Contribution Margin | $ 199,912 | $ 3.12 | 72% | $ 78,263 | $ 0.41 | 28% | $ 278,175 | 100% |
Fixed Costs | $ 175,000 | |||||||
Operating income | $ 103,175 | |||||||
Income Tax | $ 38,174.60 | |||||||
Net income | $ 65,000 |
Footballs | Baseballs | Total | ||||||
Total $ | $ per Unit | Sales Ratios | Total $ | $ per Unit | Sales Ratios | Total $ | Sales Ratios | |
Revenues | $ 1,166,666.67 | |||||||
Variable Costs | ||||||||
Contribution Margin | ||||||||
Fixed Costs | ||||||||
Operating income | ||||||||
Income Tax | ||||||||
Net income |