FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- If the contribution margin ratio for Martinez Company is 51%, sales were $707,000, and fixed costs were $248,790, what was the operating income?$fill in the blank 2arrow_forwardRequired information [The following information applies to the questions displayed below] Hudson Company reports the following contribution margin income statement. HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales (9,700 units at $280 each) Variable costs (9,700 units at $210 each) Contribution margin Fixed costs Income 1. Amount of sales 2. Margin of safety 1. Assume Hudson has a target income of $163,000. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target income, what is its margin of safety (in percent)? (Round your answer to 1 decimal place.) $ 2,716,000 2,037,000 679,000 441,000 $ 238,000 %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_forward
- How do you get income from operations? (see attached)arrow_forwardContribution 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_forwardCompany XYZ made total contribution margin of $200,000 and a net income of $150,000. The company also made a total gross margin of $210,000. Assume that the variable selling and administrative expenses were $40,000, how much is the fixed manufacturing cost ($)?arrow_forward
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