EXERCISE 5-11 Missing Data; Basic CVP Concepts LO5-1, LO5-9 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. Units Variable Contribution Margin Fixed Net Operating Income Case Sold Sales Expenses per Unit Expenses (Loss) 1 15,000 $180,000 $120,000 2 $50,000 2 $100,000 $10 $32,000 $8,000 3 10,000 ? $70,000 $13 7 $12.000 6,000 $300,000 2 $100,000 $(10,000) b. Assume that more than one product is being sold in each of the four following case situations Average Contribution Net Operating Variable Case 1 2 Sales $500,000 $400,000 $260,000 Expenses 7 Margin Ration Fixed Income Expenses (Loss) 20% 2 $7,000 " $100,000 2 60% $130,000 $20,000 $600,000 $420,000 $(5,000)