The Lioness Company had the following functional income statement for the month of July 2023:...
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The Lioness Company had the following functional income statement for the month of July 2023: There were no beginning and ending inventories. Lioness has a tax rate of 25% Required: a. Calculate the contribution margin per unit. b. Calculate the contribution margin ratio. . What is the break-even point in units? d. What is the amount of sales in dollars needed to obtain an after-tax profit of $45,000 ? e. Compute the margin of safety in dollars and the margin of safety ratio based on July 2023 financial performance
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The Lioness Company had the following functional income statement for the month of July 2023: There were no beginning and ending inventories. Lioness has a tax rate of 25% Required: a. Calculate the contribution margin per unit. b. Calculate the contribution margin ratio. . What is the break-even point in units? d. What is the amount of sales in dollars needed to obtain an after-tax profit of $45,000 ? e. Compute the margin of safety in dollars and the margin of safety ratio based on July 2023 financial performance 