Q2:Fill in the missing amounts in each of the four case situations below. Each case is independent of theothers. (Hint: One way to find the missing amounts would be to prepare a contribution format incomestatement for each case, enter the known data, and then compute the missing items.)Case Units SalesVariableSoldContributionExpenses Margin perUnitFixedNetExpenses OperatingIncomeA20,000 $300,000 $220,000 ?$45,000?B12,000 ?$120,000 $15?$18,000Case SalesVariable AverageFixedNet OperatingExpensesContributionExpensesIncomeMargin RatioсD$900,000?40%?$125,000??45%$120,000$37,500Required:1. Cases A and B assume that only one product is being sold.2. Cases C and D assume that more than one product is being sold.

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Answered: Q2: Fill in the missing amounts in each…

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 with two divisions (A and B) prepared the following segmented income statement: A B Total Sales $ ? $ 200,000 $ ? Variable expenses 120,000 140,000 260,000 Contribution margin ? ? ? Traceable fixed expenses 100,000 80,000 180,000 Segment margin $ ? $ (20,000 ) ? Common fixed expenses 50,000 Net operating income $ 10,000 What is Division A’s contribution margin? Multiple Choice $140,000 $180,000 $160,000 $200,000
Copr. Goedl Uplift, Inc. reported the following financial data for the segmented income statements: Sales $125,000 Variable expenses $63,000 Contribution margin $62,000 Total fixed expenses $42,000 Common fixed expenses $15,000 How much are traceable fixed expenses? $83,000 $20,000 $48,000 $27,000 SUBMIT B 4 5 LO 5
6. Chung-Ang Company has two department. The company's most recent monthly contribution format income statement follows: Sales Variable Expense Contribution Margin Fixed expenses Net Operating Income (Loss) A 1,000,000 400,000 600,000 800,000 (200,000) B 3,000,000 900,000 2,100,000 1,400,000 700,000 Total 4,000,000 1,300,000 2,700,000 2,200,000 500,000 A study indicates that $340,000 of the fixed expense being charged to A are sunk costs or allocated costs that will continue even if the A Department is dropped. In addition, the elimination of the A Department will result in a 10% decrease in the sales of the B department. 6-1) What is the financial advantage (disadvantage) of discontinuing the A Department?
20. From the following data calculate: a) P/V Ratio b) Variable cost and c) Profit Rs 80,000 15,000 50,000 Sales Fixed expenses Break even point 000.00 Answer all the question PART-C 21 What are the objectives of management accoun Or b) Distinguish between management accounting a accounting. 22. From the following information calculate the b Total asset/Net worth a. = 3.5 Sales/fixed assets = 6 -
D.Insert a column called percentage contribution in an appropriate area of the spreadsheet, to display the total contribution to overall sales by each salesperson. The answer is to be formatted as percentage. e.Company policy dictates that all sales volumes exceeding nine million ($8,000, 000.00) but not exceeding ten million ($10, 000, 000.00) should receive an incentive of US $700.00, otherwise they should receive US $200.00. In an appropriate area of the spreadsheet create a heading called Special Incentive 1 and make the necessary calculations using the necessary function f.Company policy also dictates that all sales volumes exceeding ten million ($10,000, 000.00) but less than or equal to twelve million ($12, 000, 000.00) should receive a trip to any Air Jamaica destination, otherwise they should not receive a trip. In an appropriate area of the spreadsheet create a heading called Special Incentive 2 and make the necessary calculations using the necessary function
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Engberg Company installs lawn sod in home yards. The company's most recent monthly.contribution format Income statement follows: Percent of Sales 100% Sales Variable expenses Contribution margin Fixed expenses Net operating income Amount $ 92,000 36,800 55,200. 44,160 $ 11,040 40% 60% Required: 1. What is the company's degree of operating leverage? 2. Using the degree of operating leverage, estimate the impact on net operating income of a 7% increase in unit sales. 3. Construct a new contribution format income statement for the company assuming a 7% increase in unit sales. Answer is not complete. Complete this question by entering your answers in the tabs below. increases Required 1 Required 2 Required 3 Using the degree of operating leverage, estimate the impact on net operating income of a 7% increase in unit sales. (Round your intermediate calculations to 2 decimal places. Round your percentage answer to 2 decimal places (.e.1234 should be entered as 12.34).) Net operating income.…
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Fill in the missing data for each of the following independent cases. (Ignore income taxes.) Note: Do not round intermediate calculations. Leave no cells blank - be certain to enter "0" wherever required. 1. 2. 3. 4. Sales Revenue Variable Expenses 225,000 50,000 $ 98,000 145,000 18,000 Total Contribution Margin 48,000 290,000 Fixed Expenses 78,400 Net Income 200,000 20,800 Break-Even Sales Revenue $ 98,000 225,000

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