1. Cullumber Manufacturing Inc. had sales of $2.70 million for the first quarter of 2022. In making...
Question:
1. Cullumber Manufacturing Inc. had sales of $2.70 million for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses.
Variable Fixed
Cost of goods sold $907, 500 $442,00
Selling expenses $66, 500 $ 44,000
Administrative expenses $88, 500 $ 99,000
Solve This
CVP income statement for the quarter ended March 31, 2022
CULLUMBER MANUFACTING INC.
CVP Income Statement
For the Quarter Ended March 31, 2022
$ | |
$ |
2. Blossom Company makes radios that sell for $60 each. For the coming year, management expects fixed costs to total $121,120 and variable costs to be $48.00 per unit.
Calculate the break-even point in dollars using the contribution margin ratio. (Round answer to the nearest dollar, e.g. 1,230.) Break-even point :
$ |
Calculate the sales dollars required to earn operating income of $150,000. tA Required sales
$ |
Calculate the margin of safety ratio assuming actual sales are $757,000. Margin of safety ratio
% |
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118856994
4th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly