FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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3

Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find
the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then
compute the missing items.)
Required:
a. Assume that only one product is being sold in each of the following four case situations:
Unit sold
Sales
Variable expenses
Fixed expenses
Operating income (loss)
Contribution margin per unit
Sales
Variable expenses
Fixed expenses
$
Operating income (loss)
Average contribution margin (percentage)
Case #1
15,600
187,200 $
124,800
52,000
$
$
$
$
Case #2
104,000
Case #1
33,280
8,320 $
10 $
7,200
20%
504,000 $
Case #3
b. Assume that more than one product is being sold in each of the following four case situations: (Enter "Contribution margin ratio"
percent. Round your final answers to the nearest whole dollar amount.)
Case #2
10,400
404,000
262,600
101,000
72,800
$
12,480 $
13
$
Case #4
6,240
312,000
Case #3
104,000
(10,400)
131,200
$
21,200 $
60%
Case #4
604,000
422,800
(4,000)
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Transcribed Image Text:Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then compute the missing items.) Required: a. Assume that only one product is being sold in each of the following four case situations: Unit sold Sales Variable expenses Fixed expenses Operating income (loss) Contribution margin per unit Sales Variable expenses Fixed expenses $ Operating income (loss) Average contribution margin (percentage) Case #1 15,600 187,200 $ 124,800 52,000 $ $ $ $ Case #2 104,000 Case #1 33,280 8,320 $ 10 $ 7,200 20% 504,000 $ Case #3 b. Assume that more than one product is being sold in each of the following four case situations: (Enter "Contribution margin ratio" percent. Round your final answers to the nearest whole dollar amount.) Case #2 10,400 404,000 262,600 101,000 72,800 $ 12,480 $ 13 $ Case #4 6,240 312,000 Case #3 104,000 (10,400) 131,200 $ 21,200 $ 60% Case #4 604,000 422,800 (4,000)
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