Print Item Question Content Area Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Wolsey Industries Inc. expects to maintain the same inventories at the end of 20Y3 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Fixed Cost Estimated Variable Cost (per unit sold) Production costs: Direct materials — $46 Direct labor — 40 Factory overhead $200,000 20 Selling expenses: Sales salaries and commissions 110,000 8 Advertising 40,000 — Travel 12,000 — Miscellaneous selling expense 7,600 1 Administrative expenses: Office and officers' salaries 132,000 — Supplies 10,000 4 Miscellaneous administrative expense 13,400 1 Total $525,000 $120 It is expected that 21,875 units will be sold at a price of $160 a unit. Maximum sales within the relevant range are 27,000 units. Required: Question Content Area 1. Prepare an estimated income statement for 20Y3. Wolsey Industries Inc.Estimated Income StatementFor the Year Ended December 31, 20Y3 $- Select - Cost of goods sold: $- Select - - Select - - Select - Total cost of goods sold fill in the blank e80cadfb2076fd1_9 Gross profit $fill in the blank e80cadfb2076fd1_10 Expenses: Selling expenses: $- Select - - Select - - Select - - Select - Total selling expenses $fill in the blank e80cadfb2076fd1_19 Administrative expenses: $- Select - - Select - - Select - Total administrative expenses fill in the blank e80cadfb2076fd1_26 Total expenses fill in the blank e80cadfb2076fd1_27 Operating income $fill in the blank e80cadfb2076fd1_28 Question Content Area 2. What is the expected contribution margin ratio? fill in the blank 939976fe303104c_1 % 3. Determine the break-even sales in units and dollars. Units fill in the blank 939976fe303104c_2 units Dollars 4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? 5. What is the expected margin of safety in dollars and as a percentage of sales? Dollars $fill in the blank 939976fe303104c_5 Percentage (If required, round the percent to one decimal place, e.g. 15.4%.) fill in the blank 939976fe303104c_6 % 6. Determine the operating leverage. If required, round your answer to one decimal place, e.g. 15.4. fill in the blank 939976fe303104c_

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Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows:   EstimatedFixed Cost   Estimated Variable Cost(per unit sold) Production costs:             Direct materials —   $28       Direct labor —   19       Factory overhead $98,800     14     Selling expenses:             Sales salaries and commissions 20,500     6       Advertising 6,900     —       Travel 1,500     —       Miscellaneous selling expense 1,700     6     Administrative expenses:             Office and officers' salaries 20,100     —       Supplies 2,500     2…

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Profit Margin, Investment Turnover, and Return on Investment The condensed income statement for the Consumer Products Division of Tri-State Industries Inc. is as follows (assuming no support department allocations): Sales $1,980,000  Cost of goods sold (891,000) Gross profit $1,089,000  Administrative expenses (594,000) Operating income $495,000  The manager of the Consumer Products Division is considering ways to increase the return on investment. a.  Using the DuPont formula for return on investment, determine the profit margin, investment turnover, and return on investment of the Consumer Products Division, assuming that $3,300,000 of assets have been invested in the Consumer Products Division. Round the investment turnover to one decimal place. Profit margin fill in the blank 1 % Investment turnover fill in the blank 2 Return on investment fill in the blank 3 % b.  If expenses could be reduced by $99,000 without decreasing sales, what would be the impact on…

Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows:   EstimatedFixedCost   EstimatedVariableCost(perunitsold) Production costs:             Direct materials     $13       Direct labor     9       Factory overhead $210,100     6     Selling expenses:             Sales salaries and commissions 43,700     3       Advertising 14,800             Travel 3,300             Miscellaneous selling expense 3,600     3     Administrative expenses:             Office and officers' salaries 42,700             Supplies 5,300     1…

Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows:   EstimatedFixed Cost   Estimated Variable Cost(per unit sold) Production costs:             Direct materials     $13       Direct labor     9       Factory overhead $212,900     6     Selling expenses:             Sales salaries and commissions 44,200     3       Advertising 15,000             Travel 3,300             Miscellaneous selling expense 3,700     3     Administrative expenses:             Office and officers' salaries 43,200             Supplies 5,300     1…

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Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows:   EstimatedFixedCost   EstimatedVariableCost(perunitsold) Production costs:             Direct materials     $22       Direct labor     14       Factory overhead $514,300     11     Selling expenses:             Sales salaries and commissions 106,900     5       Advertising 36,200             Travel 8,000             Miscellaneous selling expense 8,800     4     Administrative expenses:             Office and officers' salaries 104,500             Supplies 12,900     2…

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