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Problem 19-2 Boleyn Company Income statement NAME: Tyler Cheatham for year 2014 Variable % Sales Cost of Goods Sold Gross Profit -selling expenses -administrative expenses Income from operations 16,800,000 -6,200,000 10,600,000 -3,400,000 -1,550,000 5,650,000 Fixed % Variable $$ Fixed $$ 60% 40% 3720000 2480000 75% 60% 25% 40% 2550000 930000 850000 620000 Step 1: In the yellow boxes above, determine the variable and fixed parts of costs of goods sold, selling expense, and administrative expense. Step 2: Determine the total variable and fixed costs. Total Variable Total Fixed 7200000 3950000 Other data: The company is currently selling 120,000 units at a price of $140 per unit. Step 3: What is the variable cost per unit? 60 Step 4: What is the unit contribution margin? 80 Step 5: What is the break-even point in units? 49375 Step 6: What is the break-even point in dollars? 6912500 More data: The company is considing a plant expansion that will permit an increase of $2,800,000 in yearly sales. Step 7: What will be the total sales if the 2014 sales increase by $2,800,000? More data: If the company expands, fixed costs will increase by $1,250,000. Step 8: What will be the total fixed costs if the the plant expands? Step 9: What will be the new break-even point in units if the plant expands? More data: If the company expands, the management wants to make sure they can earn a target profit of $5,650,000. Step 10: What would be the sales (in units) needed to earn the target profit? Step 11: If sales really do increase by $2,800,000 (see steps 7 and 8), what would be income from operations? Boleyn Company Income statement projected with increased sales Use the short-cut formula for income from operations: (sales X CM ratio) - fixed costs Projected Income from operations Step 12: What if the plant is expanded and sales remain the same as before ($16,800,000)? What will the income be? Boleyn Company Income statement projected with no increase in sales Use the short-cut formula for income from operations: (sales X CM ratio) - fixed costs Projected Income from operations Step 13: Based on your analysis, would you recommend that the plant expand? Explain. Type your response here