EXERCISE 3-11 Missing Data; Basic CVP Concepts [L03-1, L03-9] Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then compute the missing items.) a. Assume that only one product is being sold in each of the four following case situations: Case 1...... 2. 3.. 4. . Units Sold Sales 15,000 $180,000 ? $100,000 10,000 ? 6,000 $300,000 Variable Expenses $120.000 ? $70,000 ? Contribution Margin per Unit ? $10 $13 ? Fixed Expenses $50,000 $32,000 ? $100,000 Net Operating Income (Loss) ? $8,000 $12,000 $(10,000) b. Assume that more than one product is being sold in each of the four following case situations: Average Variable Contribution Case Sales Expenses Margin Ratio 1...... $500,000 ? 20% 2...... $400,000 $260,000 ? 3...... ? ? 60% $600,000 $420,000 ? Fixed Expenses ? $100,000 $130,000 ? Net Operating Income (Loss) $7,000 ? $20,000 $(5,000)