Travel uses the contribution margin income statement internally. screenshot attachedthnaksgnwrohwrnhw Jamison Travel uses the contribution margin income statement internally. Jamison's first quarter results are as follows:(Click the icon to view the income statement.)Jamison's relevant range is sales of between $120,000 and $630,000.Read the requirementsRequirement 1. Prepare contribution margin income statements at sales levels of $230,000 and $400,000. (Hint: Use the contribution margin ratio.)Begin by preparing the contribution margin income statement at the $230,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.)Jamison TravelContribution Margin Income StatementThree Months Ended March 31Sales revenueLess: Variable expensesContribution marginLess: Fixed expensesOperating income (loss) 12AJamison TravelContribution Margin Income StatementThree Months Ended March 31$34 Sales revenue5 Less: Variable expenses6 Contribution margin7 Less: Fixed expenses8 Operating income$B$525,000210,000315,000172,200142,800Requirements1. Prepare contribution margin income statements at sales levels of $230,000and $400,000. (Hint: Use the contribution margin ratio.)2. Compute breakeven sales in dollars.PrintDone

Revenue is reduced from variable expenditures in this statement to determine the contribution…

Answered: Jamison Travel uses the contribution…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Assume a company reported the following results: Sales $ 400,e00 Variable expenses Contribution margin Fixed expenses 260,e00 140,000 96,e00 Net operating income $ 44,000 Average operating assets $ 350, 000 The margin is closest to: Muitiple Choice 12.9%. 35.0%. 114.3%.
Question 2 Style photo sells only one product. The statement of comprehensive income for 2021 is provided below: Sales 60,000 Less variable expenses -30,000 Contribution margini 30,000 Less fixed expenses -22,500 Net income 7,500 Required: Calculate with workings: a. The contribution margin ratio in percentage. b. Three breakeven point in total sales ringgits.
5. Pong Incorporated's income statement for the most recent month is given below. Total Store G Store H $150,000 60,000 90,000 60,000 30,000 15,000 $ 15,000 $90,000 Sales. Variable expenses.. Contribution margin. Traceable fixed expenses Segment margin.. Common Fix ed expenses... Net operating income $60,000 30,000 30,000 15,000 $15,000 30,000 60,000 45,000 $15,000 ............... If Store G sales increase by $40,000 with no change in fixed costs, the overall company net operating income should: A. increase by $8,000 B. increase by $24,000 C. increase by $20,000 D. increase by $4,000
Example-4 Open with Google Slides The Garware Paints Ltd presents to you the following income statement in a condensed form for the first quarter ending March 31: Particulars Sales Variable costs Contribution Fixed costs Net income P/V ratio Break-even sales Sales-mix (per cent) X Rs 1,00,000 80,000 20,000 0.20 0.50 Product Y Rs 60,000 42,000 hy 18,000 0.30 0.30 Z Rs 40,000 24,000 16,000 0.40 0.20 Total Rs 2,00,000 1,46,000 54,000 27,000 27,000 0.27 1,00,000 100 Determine the Break-even point for the firm. □ How many units of each product X, Y and Z need to be sold in order to achieve the Break-even, given the selling price of Rs. 10, 15 and 5 respectively? Assumption: Sales Mix remains Constant
Draw V Type here to search Read aloud 7-2B-CVP Analysis, "What if?" Analysis Kevin Co.'s projected contribution-format income statement for the upcoming month is shown below: Sales (500 units) Variable expenses Contribution margin local or shared file Fixed expenses Net operating income $10,000 4,000 6,000 1,000 $5,000 Required: a.) Compute the breakeven point in units. b.) Compute the breakeven point in dollars. c.) If the company wishes to earn a monthly target profit of $10,000, how many units must be sold each month? d.) Compute the company's margin of safety. State your answer in both dollar and percentage terms. e.) The company's manager thinks that adding a salaried sales staff member at a cost of $2,000 per month will increase sales by $4,000 per month. If he is correct, what will be the net dollar advantage or disadvantage of making this change? f.) Refer to the original data, the company's manager believes that a new production process will improve profitability He plans to…
Consider the following Income Statement. Assets were $500,000. What is the ROA? Sales Variable expenses 6,000,000 Contribution margin 40% Fixed expenses:Traceable and controllable Segment performance margin 3,400,000 Fixed expenses:Traceable NOT controllable 11% Segment margin Fixed expenses: Common 3% Net income Group of answer choices 16 20 4 None of the other answers are correct 3.2
p.mheducation.com 05 6 Saved Help S Whirly Corporation's contribution format income statement for the most recent month is shown below Sales (7,800 units) Variable expenses Total $ 249,600 140,400 Per Unit $ 32.00 18.00 Contribution margin 109,200 $14.00 Fixed expenses 55,600 $ 53,600 Net operating income Required: (Consider each case independently). 1. What would be the revised net operating income per month if the sales volume increases by 40 units? 2. What would be the revised net operating income per month if the sales volume decreases by 40 units? 3. What would be the revised net operating income per month if the sales volume is 6,800 units? 1. Revised net operating income 2. Revised net operating income 3 Revised net operating income
Required information [The following information applies to the questions displayed below] Raner, Harris and Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm has two offices-one in Chicago and one in Minneapolis. The firm classifies the direct costs of consulting jobs as variable costs. A contribution format segmented income statement for the company's most recent year is given: Sales Variable expenses Contribution margin Traceable fixed expenses office segment margin Common fixed expenses not traceable to offices Net operating Income Total Company $472,500 236,250 236,250 132,300 103,950 46,150 $ 37,000 Assume that Minneapolis' sales by major market are: 100.00% 50.00% 50.00% 28.00 22.001 14.00% 8.00% Chicago. $ 157,500 47,250 110,250 $1,900 $ 28,350 office 100.00% 30.00% 70.00% 52.00 18.00% Minneapolis $315,000 199,000 126,000 50,400 $75,600 100.00% 60.00% 40.00% 16.00% 24.00%
Given the following information, what is the contribution margin ratio? Sales Variable expenses Fixed Expenses Net Income 44% 33% 23% 56% $828000 364320 276000 $187680
Electronio ExperGecupancy Percentage 62 Month January April August 6,200 6,600 68 7,200 78 December 5,500 50 Jsing the highllow two point method to: 1 Determine the variable cost per 1poercent of occupancy 2 Estimate the fixed costs per month 3 What is the estimated total electric expense at 62 pecent of ocoupancy? ANSWER Month Electronic Expenses Oooupanoy Percentage High August 7,200 78 Low December 5,500 50 Difference 1,700 28 1 Variable cost per 1% of ocoupanoy = 61 2 Total variable cost of electric expense for December = Total fixed cost of electric expense for December = 3,035.71 2,464.29 Total variable cost of electric expense for August = Total fixed cost of electrio expense for August = 4,735.71 2,464.29 3 Using the fixed cost for December as the total fixed cost for estimation Total variable cost of electric expense at 62%. oooupancy = Total fixed oost of electric expense at 62% occupanoy Estimated total electric expense at 62% occupancy =
Wildhorse Company has the following information available for September 2022. Unit selling price of video game consoles Unit variable costs Total fixed costs Units sold $470 $329 $50,760 600
Question Completion Status: QUESTION 7 Using the following information, calculate the monthly net profit Sales for the month Food costs 73,904 25% of Sales Labor costs 45% of Sales Rent and Insurance $1500/month Supplies $2217/month Other expenses $3791/month OA. $51,733 O B. $22,171 O C. $7508 OD. $14,663 QUESTION 8 Calculate the profit margin from the last problem O A. 17.5% OB. 19.84% OC. 18.29% Click Save and Submit to save and submit. Click Save All Answers to save all answers OD.22.22%

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Jamison Travel uses the contribution margin income statement intern (Click the icon to view the income statement.) Jamison's relevant range is sales of between $120,000 and $630,000 Read the requirements