Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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Crane Manufacturing Ltd. has provided you with the following CVP income statement.
Sales (1,460 units)
Variable costs:
Cost of goods sold
Selling expenses
Administrative expenses
Contribution margin
Fixed costs:
Cost of goods sold
Selling expenses
Administrative expenses
Operating income
$1,022,000
454,060
81,760
67,160
419, 20
153,300
52,560
33,580
$179,580
a. Calculate the contribution margin ratio.
b. Calculate the break-even point in sales dollars and number of units.
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Transcribed Image Text:Crane Manufacturing Ltd. has provided you with the following CVP income statement. Sales (1,460 units) Variable costs: Cost of goods sold Selling expenses Administrative expenses Contribution margin Fixed costs: Cost of goods sold Selling expenses Administrative expenses Operating income $1,022,000 454,060 81,760 67,160 419, 20 153,300 52,560 33,580 $179,580 a. Calculate the contribution margin ratio. b. Calculate the break-even point in sales dollars and number of units.
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