Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Fixed Budget Report For Year Ended December 31, 2019 Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 15,000 s (in units) tribution margin (per unit) tribution margin costs ating income (loss) 12,000 $975,000 225,000 60,000 300,000 195,000 200,000 1,955,000 1,045,000 75,000 105,000 250,000 $3,000,000 125,000 241,000 90,000 unfavorable change in business is remotely possible; in this case, production and sales volume for the year could fall to 12,00 How much income (or loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus sign.) 430,000 456,000 $ 159,000

Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Fixed Budget Report For Year Ended December 31, 2019 Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 15,000 s (in units) tribution margin (per unit) tribution margin costs ating income (loss) 12,000 $975,000 225,000 60,000 300,000 195,000 200,000 1,955,000 1,045,000 75,000 105,000 250,000 $3,000,000 125,000 241,000 90,000 unfavorable change in business is remotely possible; in this case, production and sales volume for the year could fall to 12,00 How much income (or loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus sign.) 430,000 456,000 $ 159,000

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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