Fill in the missing amounts in each of the eight case situations below. Each cas

Question

Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution-format income statement for each case, enter the known data, and then compute the missing items.)

Assume that more than one product is being sold in each of the following four case situations:

a)

Assume that more than one product is being sold in each of the following four case situations:

Case Sales Variable Expenses Average CM% Fixed Expenses Operating Income 1 490,000 40% 69% 2 185,000 120,250 30,000 3 80% 590,000 740,000 4 390,000 81,900 -35,000

Explanation / Answer

CASE 1

CASE 2

CASE 3

CASE 4

DETAILS AMOUNT % SALES $490000 100 VARIABLE EXPENSES $294000 60 CONTRIBUTION MARGIN $196000 40 FIXED EXPENSES ($196000 * 31%) $60760 31 OPERATING INCOME $135240 69

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