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.) Required: a. Assume that only one product is being sold in each of the four following case situations: b. Assume that more than one product is being sold in each of the four following case situations: (For all requirements, Loss amounts should be indicated by a minus sign.) Complete this question by entering your answers in the tabs below. Required A Required B case situations: Assume that only one product is being sold in each of the four following Case #1 Case #2 Case #3 Case #4 Unit sold 9,700 20,800 4,600 Sales 339,500 S 406,000 138,000 Variable expenses 155,200 208,000 Fixed expenses 88,000 176,000 79,000 56,000 Net operating income (loss) 148,800 (28,400) Contribution margin per unit S 16 S 11 Miller Company's contribution format income statement for the most recent month is shown below: Total Per Unit Sales (40,000 units) Variable expenses 320,000 8.00 200,000 5.00 Contribution margin $3.00 120,000 Fixed expenses 43,000 77,000 Net operating income Required: (Consider each case independently) 1. What is the revised net operating income if unit sales increase by 14%? 2. What is the revised net operating income if the selling price decreases by $1.20 per unit and the number of units sold increases by 21%? 3. What is the revised net operating income if the selling price increases by $1.20 per unit, fixed expenses increase by $10,000, and the number of units sold decreases by 3%? 4. What is the revised net operating income if the selling price per unit increases by 20%, variable expenses increase by 20 cents per unit, and the number of units sold decreases by 14%? 1. Net operating income 2. Net operating income 3. Net operating income 4. Net operating income Lindon Company is the exclusive distributor for an automotive product that sells for $24.00 per unit and has a CM ratio of 30 %. The company's fixed expenses are $118,800 per year. The company plans to sell 18,100 units this year. Required: 1. What are the variable expenses per unit? (Round your "per unit" answer to 2 decimal places.) 2. What is the break-even point in unit sales and in dollar sales? 3. What amount of unit sales and dollar sales is required to attain a target profit of $46,800 per year? 4. Assume that by using a more efficient shipper, the company is able to reduce its variable expenses by $2.40 per unit. What is the company's new break-even point in unit sales and in dollar sales? What dollar sales is required to attain a target profit of $46,800? Variable expense per unit 1. Break-even point in units Break-even point in dollar sales Unit sales needed to attain target profit 3 Dollar sales needed to attain target profit 4. New break-even point in unit sales New break-even point in dollar sales Dollar sales needed to attain target profit