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

%

Answer rating: 100% (QA)

1 CVP Income Statement for Cullumber Manufacturing Inc CULLUMBER MANUFACTURING INC CVP Income Statement For the Quarter Ended March 31 2022 Sales revenue 2700000 Variable costs Cost of goods sold 9075... View the full answer