Crane Manufacturing Ltd. has provided you with the following CVP income statement.Sales (1,460 units)Variable costs:Cost of goods soldSelling expensesAdministrative expensesContribution marginFixed costs:Cost of goods soldSelling expensesAdministrative expensesOperating income$1,022,000454,06081,76067,160419, 20153,30052,56033,580$179,580a. Calculate the contribution margin ratio.b. Calculate the break-even point in sales dollars and number of units.

Break even point is where there is no profit and no loss situation and total cost is equal to sales.

Answered: Variable costs: Cost of goods sold…

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter10: Forecasting Financial Statement

Section: Chapter Questions

Problem 12PC

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Variable costs: Cost of goods sold Selling expenses Administrative expenses Contribution margin Fixed costs: Cost of goods sold Selling expenses Administrative expenses Operating income 454,060 81,760 67,160 419.20 153,300 52,560 33,580 $179,580