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Contribution Format Income Statement Assignment | Top Universities

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 $750,000 $250,000 61% Total $1,000,000 Sales CM ratio 754 Fixed expenses total $588,500 per month.
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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 $41,000 a month, by how much would you expect the monthly net operating income to increase? Prepare a contribution format income statement for the company as a whole. (Round your percentage answers to 2 decimal places (.e. 0.1234 should be entered as 12.34).) Flight Dynamic Amount % $ 750,000 Sure Shot Amount % $ 250,000 Total Company Amount % 1,000,000 Sales Variable expenses Contribution margin Fixed expenses IS 750,000 0.00% $ 250,000 0.00% 1,000,000 0.00% Net operating income 1,000,000 Required 2 >

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