Question: Why not? that's all i was given:( what else does it need? Magoo Company's has gathered the following information for the most recent months: #

 Why not? that's all i was given:( what else does it

need? Magoo Company's has gathered the following information for the most recent

months: # of Units Sold Sales S per Unit Contribution Margin Fixed

Expenses Tax Rate 40,000 $12.50 40% $180,000 25% 1. Go to the

Why not?

that's all i was given:( what else does it need?

Magoo Company's has gathered the following information for the most recent months: # of Units Sold Sales S per Unit Contribution Margin Fixed Expenses Tax Rate 40,000 $12.50 40% $180,000 25% 1. Go to the worksheet labelled Template: complete the following a. In cells B5 to B8 enter the data by using the information above b. Complete the Contribution Format Income Statement section (B12 to 018). Use cell references or formulas when ever possible, 2. Create a new worksheet and name it BreakEven; on this sheet: a. Copy and paste all of the information from the Template worksheet b. Use Goal Seek to find the # of unit sales needed to breakeven. i. When you see the Goal Seek Status indicating a solution use the snipping tool to take an image of it. After hitting O.K on the Goal seek Status paste the image on the worksheet. C. Complete the Margin of Safety section by inputing formulas into G12 to G15. 3. Create another worksheet and Name it MS Goal Seek a. Copy and paste all of the information from Break Even worksheet (remove Goal Seek Status image) (1) b. Use Goal Seek to find the Total Sales needed to have a margin of safety of 20%. i. When you see the Goal Seek Status indicating a solution use the snipping tool to take an image of it. After hitting O.K on the Goal seek Status paste the image on the worksheet. ii. (Hint: You may have to make sure some of the cells are referncing the right information after copying and pasting) 4. Create another worksheet and name it Solver Selling Price a. Copy and paste all of the information from Template worksheet and delete Margin of Safety (Column Fand G). b. Use Solver to determine what the selling price and # of units sold should be to breakeven under the following circumstances: i. Selling Price can be between $6 and $13. ii. The variable expenses are 60% of the Selling Price. iii. Fixed costs are 250,000. Use the snipping tool to get the image of the Solver Parameters and paste beside your results. A C E F G 1 D Magoo Company 3 4 Data Inputs: 5 Unit sales 6 Selling price per unit 7 Variable expense per unit 8 Total fixed expenses 9 Income Tax Rate 10 11 Contribution Format Income Statement 12 Total Per Unit 13 Sales 14 Variable expenses 15 Contribution margin 16 Fixed expenses 17 Operating Income 18 Taxes 19 Net Income % Margin of Safety Actual sales Break-even sales Margin of safety in dollars Margin of safety percentage

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!