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Contribution margin, break even sales, cost volume profit chart, margin of safety, and operating leverage Income Statement Additional Questions Final Questions Instructors Wolsey Industries Inc. expects to maintain the same inventories at the end of 2093 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal the cost of goods soll. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these stimates is as follows: Estimated Fixed Cost Estimated Variable Cost per unit sold) > Production costs Direct materials $56.00 36.00 $194,000.00 20.00 Direct labor 5 Factory overhead Selling expenses 1 Sales salaries and commissions 110,000.00 8.00 by Work Previous 0 3D Contribution margin, break even sales, cost volume profit chart, margin of safety, and operating leverage Income Statement Additional Questions Final Questions Instructions 7 Sales salaries and commissions 8.00 110,000.00 42,000.00 3 Advertising Travel 13,000.00 10 Miscellaneous selling expense 7,000.00 1.00 11 Administrative expenses: 124,600.00 6.00 12 Office and officers' salaries 11 Supplies Miscellaneous administrative expense 15 Total 8,000.00 15,000.00 14 1.00 $513,600.00 $128.00 It is expected that 21400 units will be sold at a price of $160 a unt. Maximum sales within the relevant range are 26,275 units. Required: 1. Prepare an estimated income statement for 2013. Refer to the Labels and Amount Descnptions list provided for the exact wording of the dk My Work Pre dx Instructions 14 Miscellaneous administrative expense 1.00 15,000.00 $513,600.00 15 Total $128.00 It is expected that 21.400 units will be sold at a price of $160 a unit. Maximum sales within the relevant range are 26,275 units. Required: 1. Prepare an estimated income statement for 2073. Refer to the Labels and Amount Descriptions is provided for the exact wording of the answer choices for text entries Enter all amounts as positive values 2. What is the expected contribution marginatio? 3. Determine the break-even sales in units and dollars. Round your answers to the nearest whole number 4. Construct a cost volume profit chart on your own paper What is the break even sales? 5. What is the expected margin of safety in doffers and as a percentage of sales? Round your answers to the nearest whole number 6. Determine the operating leverage Round to one decimal place Check My Work E ak-even sales, cost volume profit chart, Instructions Income State Labels and Amount Descriptions In Labels and Amount Descriptions Advertising Contribution margin Cost of goods sold Direct labor Direct materials 4 S Expenses Factory overhead Gross profit Income from operations Manufacturing margin Miscellaneous administrative expense Miscellaneous selling expense Office and officers salaries Sales Sales salaries and commissions Check My Work walculator Print Item Contribution margin, break-even sales, cost-volume profit chart, m Instructions Income Staten Labels and Amount Descriptions Factory overhead In Gross profit Income from operations Manufacturing margin Miscellaneous administrative expense Miscellaneous selling expense Office and officers' salaries Sales S 6 8 Sales salaries and commissions Supplies Total administrative expenses Total cost of goods sold Total expenses Total selling expenses Travel Variable cost of goods sold 1 Check My Work signment/takeAssignmentMain.do?invokerStakeAssignmentSessionlocator Prinprogress-false Hlackboard Learn WebAdvisor Main... Cengage Sign In Easy Bib eBook Calculator Print tem Contribution margin, break even sales, cost volume profit chart, margin of safety, and operating leverage Instruction Labels and Amount Descriptions Income Statement Additional Questions Final Que Income Statement Wolsey Industries Inc. Estimated Income Statement For the Year Ended December 31, 2023 1 2 (Label) 3 4 5 6 7 $ (Label) 9 Selling expenses 10 11 12 dk My Work O BA 9 pard Learn WebAdvisor Main... Cengage Sign In Easy Bib ok Calculator Print Item ntribution margin, break even sales, cost volume profit chart, margin of safety, and operating Instructions Labels and Amount Descriptions Income Statement Additional Questions Income Statement 3 (Label) 9 Selling expenses 10 11 12 13 14 15 Administrative expenses 16 17 18 19 20 Total expenses 21 dk My Work Contribution margin, break-even sales, cost volume profit chart, margin of safety, Instructions Labels and Amount Descriptions Income Statement Addition Additional Questions Final Questions 5. What is the expected margin of safety in dollars and as a percentage of sales? If applicable, use amounts previously computed and then round your answers to the nearest whole number Dollars Percentage 96 6. Determine the operating leverage Round to one decimal place Check My Work k Calculator Print Item mtribution margin, break-even sales, cost-volume-profit chart, margin of safety, and o Instructions Labels and Amount Descriptions Income Statement Additional Qu Additional Questions 2. What is the expected contribution margin ratio? % 3. Determine the break-even sales in units and dollars. Round your answers to the nearest whole number Units units Dollars 4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales? My Work

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