Question: I believe that there are missing values in table #2 and #4. Please complete, thank you! Erin Shelton, Inc., wants to earn a target profit

Erin Shelton, Inc., wants to earn a target profit of $990,000 this year. The company's fixed costs are expected to be $1,380,000 and its variable costs are expected to be 75 percent of sales. Erin Shelton, Inc., earned $890,000 in profit last year. Required: 1. Calculate break-even sales for Erin Shelton, Inc. Break Even Sales $ 5,520,000 2. Prepare a contribution margin income statement on the basis break-even sales. (Do not leave any cells blank, enter a zero wherever required) Contribution Margin Income Statement Variable Costs Contribution Margin (4,140,000) 1,380.000 $ (1.380.000) Fixed Costs Profit $ 4. Prepare a contribution margin income statement based on sales required to earn a target profit of $990,000 Contribution Margin Income Statement Variable Costs (7,110,000) 2,370,000 Contribution Margin Fixed Costs (1,380,000) 990,000 Profit 5. When the company earns $990,000 of net income, what is its margin of safety and margin of safety as a per be entered as 12.34%.))
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