Question: Exercise 4-13 Missing Data; Basic Cost-Volume-Profit Concepts [LO1, LO2] Fill in the missing amounts in each of the eight case situations below. Each case
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Exercise 4-13 Missing Data; Basic Cost-Volume-Profit Concepts [LO1, LO2] 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.) Required: a. Assume that only one product is being sold in each of the following four case situations: Unit sold Sales Variable expenses Fixed expenses Operating income (loss) Contribution margin per unit Case #1 Case #2 Case #3 Case #4 21,000 14,000 8,400 $ 252,000 $ 140,000 $ 420,000 168,000 98,000 70,000 44,800 140,000 $ 11,200 $ 16,800 $ (14,000) $ 10 $ 13
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