MagCo Inc. has provided you with the following year end full ad Sales $3,000,000 Less COGS:...

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MagCo Inc. has provided you with the following year end full ad Sales $3,000,000 Less COGS: Raw Material $400,000 Direct Labor $800,000 Variable MOH $70,000 Fixed MOH $1,000,000 Total COGS $2,270,000 Gross Profit $730,000 Selling & Gen'l & Adim. Expenses Variable Selling xp. $100,000 Fixed Selling Exp. $500,000 Total Selling Exp. $600,000 Gen'l Adim Expenses: Variable G&A Exp. $70,000 Fixed G&A Exp $600,000 Total G&A Exp. $670,000 Total Selling Exp. & Gen'l Adim E $1,270,000 ($540,000) Profit (Loss) Required: 1 Prepare and Contribution Margin (Variable Cost) inc 2 Calculate the Breakeven Point in $ using the Contrib 3 What would sales have to be to generate $300,000 i MagCo Inc. has provided you with the following year end full ad Sales $3,000,000 Less COGS: Raw Material $400,000 Direct Labor $800,000 Variable MOH $70,000 Fixed MOH $1,000,000 Total COGS $2,270,000 Gross Profit $730,000 Selling & Gen'l & Adim. Expenses Variable Selling xp. $100,000 Fixed Selling Exp. $500,000 Total Selling Exp. $600,000 Gen'l Adim Expenses: Variable G&A Exp. $70,000 Fixed G&A Exp $600,000 Total G&A Exp. $670,000 Total Selling Exp. & Gen'l Adim E $1,270,000 ($540,000) Profit (Loss) Required: 1 Prepare and Contribution Margin (Variable Cost) inc 2 Calculate the Breakeven Point in $ using the Contrib 3 What would sales have to be to generate $300,000 i

Answer rating: 100% (QA)

1 Prepare a Contribution Margin Variable Cost income statement A contribution margin income statement separates variable costs costs that change with ... View the full answer