FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
A company’s flexible budget for 12,000 units of production showed total contribution margin of $46,800 and fixed costs, $45,000. The income expected if the company produces and sells 17,000 units is?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Contribution Margin Ratio a. Young Company budgets sales of $112,900,000, fixed costs of $25,000,000, and variable costs of $66,611,000. What is the contribution margin ratio for Young Company?fill in the blank % b. If the contribution margin ratio for Martinez Company is 40%, sales were $34,800,000, and fixed costs were $1,500,000, what was the operating income?$fill in the blankarrow_forwardGiven breakeven sales in units of 32,000 and a unit contribution margin of $10, how many units must be sold to reach a target operating income of $16,000? 1,600 33,600 30,600 160,000arrow_forwarda. Young Company budgets sales of $960,000, fixed costs of $34,600, and variable costs of $153,600. What is the contribution margin ratio for Young Company? b. If the contribution margin ratio for Martinez Company is 61%, sales were $559,000, and fixed costs were $248,920, what was the operating income?arrow_forward
- If Swannanoa Company's budgeted sales are $800,000, fixed costs are $250,000, and variable costs are $500,000, what is the budgeted contribution margin ratio? If the contribution margin ratio is 35%, sales are $900,000, and fixed costs are $200,000, what is the operating income?arrow_forwardContribution Margin Ratio a. Young Company budgets sales of $1,050,000, fixed costs of $80,300, and variable costs of $357,000. What is the contribution margin ratio for Young Company? D% b. If the contribution margin ratio for Martinez Company is 39%, sales were $627,000, and fixed costs were $190,730, what was the operating income?arrow_forwardMore-Power Company has projected sales of 75,000 regular sanders and 30,000 mini-sanders for next year. The projected income statement is as follows: Regular Sander Mini-Sander Total Sales $3,000,000 $1,800,000 $4,800,000 Less: Variable expenses 1,800,000 900,000 2,700,000 Contribution margin $1,200,000 $900,000 $2,100,000 Less: Direct fixed expenses 250,000 450,000 700,000 Product margin $950,000 $450,000 $1,400,000 Less: Common fixed expenses 600,000 Operating income $800,000 Required: 1. For each of the following possible sales mixes, calculate operating income: Regular Sander Mini-Sander a. 75,000 37,500 b. 60,000 60,000 c. 30,000 90,000 d. 30,000 60,000 Operating Income a. $_________ b. $______ c. $________ d. $_________ 2. Calculate the break-even units for each product for each of the preceding sales mixes. Round the number of break-even packages to two decimal…arrow_forward
- Contribution Margin Ratio a. Imelda Company budgets sales of $810,000, fixed costs of $62,000, and variable costs of $275,400. What is the contribution margin ratio for Imelda Company? (Enter your answer as a whole number.) % b. If the contribution margin ratio for Peppa Company is 62%, sales were $596,000, and fixed costs were $273,440, what was the income from operations?arrow_forwardCoastal Carolina Company has a product with a unit selling price of $200, the unit variable cost is $110, and the total monthly fixed costs are $300,000. What is Coastal Carolina's contribution margin ratio? OA) 182% B) 55% C) 45% OD) 150%arrow_forwardContribution Margin Ratio a. Imelda Company budgets sales of S1,800,000, fixed costs of $394,000, and variable costs of $1,116,000. What is the contribution margin ratio for Imelda Company? (Enter your answer as a whole number.) b. If the contribution margin ratio for Peppa Company is 42%, sales were $2,500,000, and fixed costs were $590,000, what was the income from operations? $_arrow_forward
- Contribution margin ratio a. Coastal Company budgets sales of $1,080,000, fixed costs of $38,900, and variable costs of $172,800. What is the contribution margin ratio for Coastal Company?fill in the blank 1 of 1 % b. If the contribution margin ratio for Bushner Company is 42%, sales were $848,000, and fixed costs were $277,800, what was the operating income?fill in the blank 1 of 1$arrow_forwarda. Imelda Company budgets sales of $1,800,000, fixed costs of $394,000, and variable costs of $1,116,000. What is the contributior margin ratio for Imelda Company? (Enter your answer as a whole number.) % b. If the contribution margin ratio for Peppa Company is 42%, sales were $2,500,000, and fixed costs were $590,000, what was the income from operations?arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education