Stancil Dry Cleaners has determined the following about its​ costs: Total variable expenses are$42,000​,total fixed expenses are $24,000, and the sales revenue needed to break even is $48,000. Determine the​ company's current​ 1) sales revenue and​ 2) operating income. ​(​Hint:​ First, find the contribution margin​ ratio; then prepare the contribution margin income​ statement.)       Use the contribution margin income statement and the shortcut contribution margin approaches to determine Stancil's current​ (1) sales revenue and​ (2) operating income. Begin by computing the contribution margin ratio. ​(Enter the result as a5 whole​ number.) The contribution margin ratio is 50 %. Prepare the contribution margin income statement at the calculated sales level

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Stancil Dry Cleaners has determined the following about its​ costs: Total variable expenses are$42,000​,total fixed expenses are $24,000, and the sales revenue needed to break even is $48,000. Determine the​ company's current​ 1) sales revenue and​ 2) operating income.
​(​Hint:​ First, find the contribution margin​ ratio; then prepare the contribution margin income​ statement.)
 
 
 
Use the contribution margin income statement and the shortcut contribution margin approaches to determine Stancil's current​ (1) sales revenue and​ (2) operating income.
Begin by computing the contribution margin ratio. ​(Enter the result as a5 whole​ number.)
The contribution margin ratio is
50
%.

Prepare the contribution margin income statement at the calculated sales level.

NOTE: the other picture is to show the options.

Stancil Dry Cleaners has determined the following about its costs: Total variable expenses are
sales revenue and 2) operating income. (Hint: First, find the contribution margin ratio; then pre
Use the contribution margin income statement and the shortcut contribution margin approach
Begin by computing the contribution margin ratio. (Enter the result as a whole number.)
50 %.
The contribution margin ratio is
Prepare the contribution margin income statement at the calculated sales level.
Stancil Drycleaners
Contribution Margin Income Statement
Contribution margin
Less: Fixed expenses
Less: Variable expenses
Operating income (loss)
Sales revenue
Choose from any list or enter any number in the input fields and then click Check An:
Transcribed Image Text:Stancil Dry Cleaners has determined the following about its costs: Total variable expenses are sales revenue and 2) operating income. (Hint: First, find the contribution margin ratio; then pre Use the contribution margin income statement and the shortcut contribution margin approach Begin by computing the contribution margin ratio. (Enter the result as a whole number.) 50 %. The contribution margin ratio is Prepare the contribution margin income statement at the calculated sales level. Stancil Drycleaners Contribution Margin Income Statement Contribution margin Less: Fixed expenses Less: Variable expenses Operating income (loss) Sales revenue Choose from any list or enter any number in the input fields and then click Check An:
Stancil Dry Cleaners has determined the following about its costs: Total varia
sales revenue and 2) operating income. (Hint: First, find the contribution ma
Use the contribution margin income statement and the shortcut contribution
Begin by computing the contribution margin ratio. (Enter the result as a whc
50 %.
The contribution margin ratio is
Prepare the contribution margin income statement at the calculated sales I
Stancil Drycleaners
Contribution Margin Income Statement
Transcribed Image Text:Stancil Dry Cleaners has determined the following about its costs: Total varia sales revenue and 2) operating income. (Hint: First, find the contribution ma Use the contribution margin income statement and the shortcut contribution Begin by computing the contribution margin ratio. (Enter the result as a whc 50 %. The contribution margin ratio is Prepare the contribution margin income statement at the calculated sales I Stancil Drycleaners Contribution Margin Income Statement
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