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Exercise 5-12 Multiproduct Break-Even Analysis [LO5-9] Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Flight Dynamic Sure Shot Sales $ 700,000 $ 300,000 68% 75% Total $1,000,000 7 CM ratio. Fixed expenses total $557,500 per month. Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $55,000 a month, by how much would you expect the monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $55,000 a month, by how much would you expect the monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution format income statement for the company as a whole. (Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Flight Dynamic Sure Shot Total Company % Amount Amount $ 300,000 Sales 100.00 % 1,000,000 100.00 % 0 % % Variable expenses Contribution margin 100,00 % $ 300,000 1,000,000 100.00 % 557,500 Fixed expenses $ 442,500 Net operating income (Required 1 Amount $ 700,000 $ 700,000 % 100.00 % % 100.00 % Required 2 > Check my Exercise 5-12 Multiproduct Break-Even Analysis [LO5-9] Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Flight Dynamic Sure Shot Sales CM ratio $ 700,000 $ 300,000 758 Total $1,000,000 68% 7 Fixed expenses total $557,500 per month. Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $55,000 a month, by how much would you expect the monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the company's break-even point in dollar sales based on the current sales mix? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Break-even point in sales Exercise 5-12 Multiproduct Break-Even Analysis [LO5-9] Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Flight Dynamic Sure Shot Total $1,000,000 Sales CM ratio $ 700,000 $ 300,000 68% 758 Fixed expenses total $557,500 per month. Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $55,000 a month, by how much would you expect the monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Required 11 Required 2 Required 3 If sales increase by $55,000 a month, by how much would you expect the monthly net operating income to increase? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Net operating income increases by