Question: Please show all rough work so I can understand the method. Thank you! You Rang? manufactures and sells boomerangs. The company's contribution format income statement

Please show all rough work so I can understand the method. Thank you!

"You Rang?" manufactures and sells boomerangs. The company's contribution format income statement for the month of September is given below. The company is looking to make a profit of $7000 for the month. Sales (800 units) Less Variable Expenses Contribution Margin Less Fixed Expenses Operating Income Total Per Unit $16,000 $20.00 $9,600 $12.00 $6,400 $8.00 $3,400 $3,000 Compute the following: 1. The Contribution Margin Ratio for "You Rang?" - 1 Mark 2. The company's break-even point in both units and sales dollars. - 3 Marks 3. The Target Operating Profit for "You Rang?" in both units and sales dollars. - 3 Marks 4. The company's Margin of Safety expressed in units, sales dollars, and as a percentage. - 3 Marks round your final answers to 2 decimal points correctly

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

ACCG70011 Finance and Managerial Accounting Assignment #2 Chapter 02 Veekay Company was incorporate on November 1 of the previous year. After 7 months of start up losses, management had expected to...

You Rang? manufactures and sells boomerangs. The companys contribution format income statement for the month of September is given below. The company is looking to make a profit of $80,000 for the...

Please provide all details and steps so I can use as a study guide. Repost since last person just submitted the answer. Looking for the steps also to understand. Pianos, Inc. purchases pianos from a...

Please show all rough work so I can understand the method used. Thank you! Pianos, Inc. purchases pianos from a well-known manufacturer and sells them at the retail level. The pianos sell, on the...

Please help me and show work so I can understand , thank you so much! 35. Tanner Company's most recent contribution format income statement is presented below: Sales . $75,000 Variable expenses...

I need help answering questions #21 #27 #52 #54 #55 I am uploading the whole exam but only need help answering the questions I have listed above. Thank you BUS 7013 Managerial Accounting Final Exam...

Thank you for assisting me throughout this course. please contact with any questionsagain thank you Mid-term (Chapters 3-4) 1. During the month of April, direct labor cost totaled $15,000 and direct...

please open the attachment. there are my questions 1. In computing its predetermined overhead rate, Marple Company inadvertently left its indirect labor costs out of the computation. This oversight...

Submission information: Your assignment submission must include both an Excel spreadsheet (electronically submitted) using the template provided and a printed report of your Excel spreadsheet. The...

Explain how the main components of the BI architecture interact to form a system. Describe the evolution of BI information dissemination formats.

Yosef Company began operating on January 1, 2012. At the end of the first year of operations, Yosef reported $750,000 income before income taxes on its income statement but only $660,000 taxable...

Which of the following types of income is subject to the self-employment tax? Multiple Choice Income from a sole proprietor's coffee shop. Gain on the sale of a home. W-2 income. Interest earned on a...

If the following join statement is used to join two tables in a query, which of the following tables would all of the tuples in the relation appear in results? left join university.students on...