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Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next years plans call for a $200 selling price per 100 yards of XT rope. Its fixed costs for the year are expected to be $270,000, up to a maximum capacity of 700,000 yards of rope. Forecasted variable costs are $140 per 100 yards of XT rope.

5. Prepare a contribution margin income statement showing sales, variable costs, and fixed costs for Product XT at the break-even point. Answer is complete but not entirely correct. PRAVEEN CO. Contribution Margin Income Statement (at Break-Even) - Product XT Units per unit Total $ Less: Sales Variable cost Contribution margin Fixed costs Net income 10,000 10,000 10,000 $ 90 $ 900,000 36 360,000 54 540,000 210,600 $ 329,400 Less