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

Maple Enterprises sells a single product with a selling price of $70 and variable costs per unit of $28. The company's monthly fixed expenses are $21,000.

A. What is the company's break-even point in units?

Break-even units fill in the blank d73ff0f2efebff5_1 units

B. What is the company's break-even point in dollars?

Break-even dollars $fill in the blank d73ff0f2efebff5_2

C. Construct a contribution margin income statement for the month of September when they will sell 800 units. Use a minus sign for a net loss if present.

 
 
Income Statement
Sales  $fill in the blank be7e7a091fd5004_2
Variable Costs  fill in the blank be7e7a091fd5004_4
Contribution Margin  $fill in the blank be7e7a091fd5004_6
Fixed Costs  fill in the blank be7e7a091fd5004_8
Net Income  $fill in the blank be7e7a091fd5004_10

D. How many units will Maple need to sell in order to reach a target profit of $37,800?

New break-even units fill in the blank 8ae6eef18071ff9_1 units

E. What dollar sales will Maple need in order to reach a target profit of $37,800?

New break-even dollars $fill in the blank 8ae6eef18071ff9_2

F. Construct a contribution margin income statement for Maple that reflects $147,000 in sales volume.

 
 
Income Statement
  $fill in the blank b4170f043fc907f_2
  fill in the blank b4170f043fc907f_4
  $fill in the blank b4170f043fc907f_6
  fill in the blank b4170f043fc907f_8
  $fill in the blank b4170f043fc907f_10
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