Exercise 6-11 Missing Data; Basic CVP Concepts [LO6-1, LO6-9] 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: Required A Required B Assume that only one product is being sold in each of the four following case situations: Case #1 Case #2 Case #3 Case #4 Unit sold 10,000 6,000 300,000 Sales $ 100,000 $ 15,000 180,000 $ 120,000 50,000 70,000 Variable expenses Fixed expenses 32,000 100,000 (10,000) $ 8,000 $ 12,000 $ Net operating income (loss) Contribution margin per unit $ 10 $ 13 Required A Required B Assume that more than one product is being sold in each of the four following case situations: Case #1 Case #2 Case #3 Case #4 Sales $ 500,000 $ 400,000 $ 600.000 260,000 420,000 Variable expenses Fixed expenses 100,000 130,000 20,000 $ 7,000 $ $ (5,000) Net operating income (loss) Contribution margin ratio (percent) 20 % % 60 % %