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Fill in the missing amounts in each of the eight case situations below. Each case is...

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Question

Accounting

Fill in the missing amounts in each of the eight case situationsbelow. Each case is independent of the others. (Hint: Oneway to find the missing amounts would be to prepare a contributionformat income statement for each case, enter the known data, andthen compute the missing items.)

Required:

a. Assume that only one product is being sold in each of thefour following case situations:

b. Assume that more than one product is being sold in each ofthe four following case situations:

Part 1
Case #1Case #2Case #3Case #4
Unit sold15,00010,0006,000
Sales$180,000$100,000$300,000
Variable expenses120,00070,000
Fixed expenses50,00032,000100,000
Net operating income (loss)$8,000$12,000$(10,000)
Contribution margin perunit$10$13

???????

Part 2
Case #1Case #2Case #3Case #4
Sales$500,000$400,000$600,000
Variable expenses260,000420,000
Fixed expenses100,000130,000
Net operating income (loss)$7,000$20,000$(5,000)
Contribution margin ratio(percent)20%%60%%

Answer & Explanation Solved by verified expert
4.4 Ratings (679 Votes)
Answer Part 1 Case 1 Case 2 Case 3 Case 4 Unit sold 15000 4000 10000 6000 Sales 180000 100000 200000 300000 Variable expenses 120000 60000 70000 210000 Fixed expenses 50000 32000 118000 100000 Net operating income loss 10000 8000 12000 10000    See Answer
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