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Miller Company's contribution format income statement for the most recent month is shown below: Sales (41,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Required: Total $ 287,000 164,000 123,000 46,000 $ 77,000 Per Unit $7.00 4.00 $ 3.00 (Consider each case independently): 1. What is the revised net operating income if unit sales increase by 11%? 2. What is the revised net operating income if the selling price decreases by $1.20 per unit and the number of units sold increases by 16%? 3. What is the revised net operating income if the selling price increases by $1.20 per unit, fixed expenses increase by $7,000, and the number of units sold decreases by 4%? 4. What is the revised net operating income if the selling price per unit increases by 10%, variable expenses increase by 10 cents per unit, and the number of units sold decreases by 15%? 1. Net operating income

Miller Company's contribution format income statement for the most recent month is shown below: Sales (41,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Required: Total $ 287,000 164,000 123,000 46,000 $ 77,000 Per Unit $7.00 4.00 $ 3.00 (Consider each case independently): 1. What is the revised net operating income if unit sales increase by 11%? 2. What is the revised net operating income if the selling price decreases by $1.20 per unit and the number of units sold increases by 16%? 3. What is the revised net operating income if the selling price increases by $1.20 per unit, fixed expenses increase by $7,000, and the number of units sold decreases by 4%? 4. What is the revised net operating income if the selling price per unit increases by 10%, variable expenses increase by 10 cents per unit, and the number of units sold decreases by 15%? 1. Net operating income

FINANCIAL ACCOUNTING
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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Miller Company's contribution format income statement for the most recent month is shown below: Sales (41,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Required: Total $ 287,000 164,000 123,000 46,000 $ 77,000 Per Unit $ 7.00 4.00 $ 3.00 (Consider each case independently): 1. What is the revised net operating income if unit sales increase by 11%? 2. What is the revised net operating income if the selling price decreases by $1.20 per unit and the number of units sold increases by 16%? 3. What is the revised net operating income if the selling price increases by $1.20 per unit, fixed expenses increase by $7,000, and the number of units sold decreases by 4%? 4. What is the revised net operating income if the selling price per unit increases by 10%, variable expenses increase by 10 cents per unit, and the number of units sold decreases by 15%? 1. Net operating income 2. Net operating income 3. Net operating income 4. Net operating income
Transcribed Image Text:Miller Company's contribution format income statement for the most recent month is shown below: Sales (41,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Required: Total $ 287,000 164,000 123,000 46,000 $ 77,000 Per Unit $ 7.00 4.00 $ 3.00 (Consider each case independently): 1. What is the revised net operating income if unit sales increase by 11%? 2. What is the revised net operating income if the selling price decreases by $1.20 per unit and the number of units sold increases by 16%? 3. What is the revised net operating income if the selling price increases by $1.20 per unit, fixed expenses increase by $7,000, and the number of units sold decreases by 4%? 4. What is the revised net operating income if the selling price per unit increases by 10%, variable expenses increase by 10 cents per unit, and the number of units sold decreases by 15%? 1. Net operating income 2. Net operating income 3. Net operating income 4. Net operating income
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