Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. required: 1. prepare a contribution format income

Required: 1. Prepare a contribution format income statement for the company as a whole. 2....

80.2K

Verified Solution

Question

Accounting

Required:

1. Prepare a contribution format income statement for the company as a whole.

2. What is the company's break-even point in dollar sales based on the current sales mix?

3. If sales increase by $50,000 a month, by how much would you expect the monthly net operating income to increase?

imageimage

Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Flight Sure Dynamic Shot $ 680,000 $ 320,000 69% 80% Sales CM ratio Total $ 1,000,000 ? Fixed expenses total $592,500 per month. Required 1 Required 2 Required 3 Prepare a contribution format income statement for the company as a whole. (Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Sure Shot Flight Dynamic Amount % Total Company Amount % Amount % % % % % % % % % %

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A company has two machines that produce widgets. The new machine produces 75% widgets and the...

Statistics
Q

Psychologists have described the human nervous system as the communication and control center for the body....

Psychology
Q

In a road worthiness test on 240 cars 60 passed The number that failed had...

Basic Math
Q

o Question Help *P7-65A (similar to) Vet Seating...

Accounting
Q

Lakeside Inc. Is considering replacing old production equipment with state-of-the-art technology...

Accounting
Q

Sunland Company manufactures many products for use in the airline industry. Presented below is...

Accounting
Q

The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the...

Accounting
Q

Choose an emerging country and research the strength of enforcement of financial accounting standards and...

Accounting
Q

Why do yoy think it's so important for businesses to also put an emphasis on...

Accounting
Q

Flexible Budget for Varying Levels of Activity Nashler Company has the following budgeted variable costs...

Accounting
Q

Lon Jenkins is the sole finance person at Digital Widget, Inc., a closely held firm...

Accounting
Q

Complete Disclosure Of The Methods And Procedures Used In The Research Study Is Required. Such...

Accounting