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Required information Use the following information for the Exercises below. (Algo) Skip to question [The...

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Accounting

Required information

Use the following information for the Exercises below. (Algo)

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[The following information applies to the questions displayed below.] Hudson Company reports the following contribution margin income statement.

HUDSON COMPANY
Contribution Margin Income Statement
For Year Ended December 31
Sales (11,000 units at $300 each) $ 3,300,000
Variable costs (11,000 units at $240 each) 2,640,000
Contribution margin 660,000
Fixed costs 360,000
Income $ 300,000

Exercise 18-12 (Algo) Target income and margin of safety LO C2

1. Assume Hudson has a target income of $158,000. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target income, what is its margin of safety (in percent)? (Round your answer to 1 decimal place.)

  1. Amount of Sales:
  2. Margin of Safety:

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