Smithen Company, a wholesale distributor, has been operating for only a few months. The company...
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Smithen Company, a wholesale distributor, has been operating for only a few months. The company sells three products-sinks. mirrors, and vanities, Budgeted sales by product and in total for the coming month are shown below based on planned unit sales as follows: Break-even point in unit sales: TotalflxedexpensesWelghted-averageCHperunit$244,50$462,700=1,892,43units($200.000.50)+($146.000.25)+($272.000.25) As shown by these data, operating income is budgeted at $26,300 for the month, break-even sales dollars at $686,007.16, and break. even unit sales at 1,892.43 Assume that actual sales for the month total $730,800 (2,100 units), with the CM ratio and per unit amounts the same as budgeted Actual fixed expenses are the same as budgeted, $462,700. Actual sales by product are as follows; sinks, $182,700 ( 525 units). mirrors, $304,500 (1,050 units); and vanities, $243,600 (525 units). Required: 1. Prepare a contribution format income statement for the month based on actual sales data. (Round your answers to 2 decimol Required: 1. Prepare a contribution format income statement for the month based on actual sales data. (Round your onswers to 2 decimol places.) 2. Compute the break-even point in sales dollars for the month, based on the actual data, (Round your percentoge onswers to nearest whole percent. Round other intermediote values ond finol answer to the nearest whole dolior.)
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