1. CVP Analysis; Contribution Margin (CM); Break-even point (3pts): GoalGoalGoal, Inc. manufactures soccer cleats that are...

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1. CVP Analysis; Contribution Margin (CM); Break-even point (3pts): GoalGoalGoal, Inc. manufactures soccer cleats that are all sold at the same price. Suppose the firm is currently selling 12,000 pairs of soccer cleats per month. The following data pertains to this firm: Per pair of Per month: soccer cleats: $90.00 Selling price: Manufacturing costs: Variable Manufacturing costs (DM, DL, VarOH) Fixed Manufacturing costs (FixedOH) Non-manufacturing costs: $29.25 $171,420 Variable selling and administrative costs $7.60 Fixed selling and administrative costs: Administrative salaries $79,400 $5,700 $133,650 $107,750 Main office Rent Main office depreciation Advertising costs a. Calculate the firm's Contribution Margin (CM) per pair of soccer cleats (0.5pts). b. Calculate the firm's CM Ratio. Round your answer to the nearest hundredth (i.e. two decimal places, such as 76.80%). (0.5pts) c. Calculate the number of pairs of soccer cleats the firm will need to sell per month in order to break even (i.e, calculate the break-even point in units). Round your answer up to the nearest whole unit. (0.5pts) d. Assume the company's target profit for the month is $150,000. Determine the number of pairs of soccer cleats the firm will need to sell per month to attain this target profit. Round your answer up to the nearest whole unit. (0.5pts) e. Prepare a Contribution Margin Income Statement for the month ended 2/28/2022 at the current soles volume of 12,000 pairs of soccer cleats (see text/e-text exhibits 5.13 & 5.19 for examples). Make sure to include a proper heading and use proper formatting. (1pt) 1. CVP Analysis; Contribution Margin (CM); Break-even point (3pts): GoalGoalGoal, Inc. manufactures soccer cleats that are all sold at the same price. Suppose the firm is currently selling 12,000 pairs of soccer cleats per month. The following data pertains to this firm: Per pair of Per month: soccer cleats: $90.00 Selling price: Manufacturing costs: Variable Manufacturing costs (DM, DL, VarOH) Fixed Manufacturing costs (FixedOH) Non-manufacturing costs: $29.25 $171,420 Variable selling and administrative costs $7.60 Fixed selling and administrative costs: Administrative salaries $79,400 $5,700 $133,650 $107,750 Main office Rent Main office depreciation Advertising costs a. Calculate the firm's Contribution Margin (CM) per pair of soccer cleats (0.5pts). b. Calculate the firm's CM Ratio. Round your answer to the nearest hundredth (i.e. two decimal places, such as 76.80%). (0.5pts) c. Calculate the number of pairs of soccer cleats the firm will need to sell per month in order to break even (i.e, calculate the break-even point in units). Round your answer up to the nearest whole unit. (0.5pts) d. Assume the company's target profit for the month is $150,000. Determine the number of pairs of soccer cleats the firm will need to sell per month to attain this target profit. Round your answer up to the nearest whole unit. (0.5pts) e. Prepare a Contribution Margin Income Statement for the month ended 2/28/2022 at the current soles volume of 12,000 pairs of soccer cleats (see text/e-text exhibits 5.13 & 5.19 for examples). Make sure to include a proper heading and use proper formatting. (1pt)

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a Contribution margin per pair of soccer cleats Selling price per pair Variable Cost per pair Contri... View the full answer