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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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OX A 40% £
Olongapo Sports Corporation distributes two premium golf bals-Flight Dynamic and Sure Shot. Monthly sales and the
contribution margin ratios for the two products follow:
Product
Flight
Dynanic
$ 660, 000
64%
Sure Shot
Total
Sales
OM ratio
$ 340,000 $ 1,000, ee0
794
Fixed expenses total $581,000 per month.
Required:
1. Prepare a contribution format income statement for the company as a whole.
2. What is the company's break-even point in dollar sales based on the current sales mix?
3. f sales increase by $52,000 a month, by how much would you expect the monthly net operating income to increase?
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Required 3
Prepare a contribution format income statement for the company as a whole. (Round your percentage answers to 2 decimal places
(Le 0.1234 should be entered as 12.34).)
Flight Dynamic
Sure Shot
Total Company
Amount
Ameunt
Required 2>"
Transcribed Image Text:10:19
OX A 40% £
Olongapo Sports Corporation distributes two premium golf bals-Flight Dynamic and Sure Shot. Monthly sales and the
contribution margin ratios for the two products follow:
Product
Flight
Dynanic
$ 660, 000
64%
Sure Shot
Total
Sales
OM ratio
$ 340,000 $ 1,000, ee0
794
Fixed expenses total $581,000 per month.
Required:
1. Prepare a contribution format income statement for the company as a whole.
2. What is the company's break-even point in dollar sales based on the current sales mix?
3. f sales increase by $52,000 a month, by how much would you expect the monthly net operating income to increase?
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Required 3
Prepare a contribution format income statement for the company as a whole. (Round your percentage answers to 2 decimal places
(Le 0.1234 should be entered as 12.34).)
Flight Dynamic
Sure Shot
Total Company
Amount
Ameunt
Required 2>
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