Question: Complete the multi product contribution margin income statement with the given information: Net income earned during most recent period: $ 65,000 Contribution margin ratio: 15%
Complete the multi product contribution margin income statement with the given information:
| Net income earned during most recent period: | $ 65,000 | ||||
| Contribution margin ratio: | 15% | ||||
| Fixed costs incurred during most recent period: | $ 175,000 | ||||
| Statutory tax rate: | 37% | ||||
| Operating income generated at breakeven: | $ - | ||||
| Applicable to the Football Division | |||||
| Selling price per football | $ 18.00 | ||||
| Total variable cost dollars incurred by Football Division | $ 952,088 | ||||
| Quantity of footballs sold during most recent period: | 64,000 | ||||
| Applicable to the Baseball Division | |||||
| Variable cost per baseball: | $ 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 | |||||||||
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