16 May Questionacct 212 homework 5 chapter 22
Question
acct 212 homework 5 chapter 22
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award:
3 out of
3.00 points
Exercise 22-5 Predicting sales and variable costs using contribution margin L.O. C2
| Orlando Company management predicts that it will incur fixed costs of $256,000 and earn pretax income of $443,600 in the next period. Its expected contribution margin ratio is 66%. |
| 1. | Compute the amount of total dollar sales. (Omit the “$” sign in your response.) |
| 2. | Compute the amount of total variable costs. (Omit the “$” sign in your response.) |
2.
award:
3 out of
3.00 points
Exercise 22-7 Cost behavior estimation—scatter diagram and high-low L.O. P1
| Felix & Co. reports the following information about its sales and cost of sales. |
| Period | Units Sold |
Cost of Sales |
Period | Units Sold |
Cost of Sales |
|
| 1. | 0 | $ | 2,690 | 6. | 2,190 | 5,690 |
| 2. | 590 | 3,290 | 7. | 2,590 | 6,290 | |
| 3. | 990 | 3,890 | 8. | 2,990 | 6,890 | |
| 4. | 1,390 | 4,490 | 9. | 3,390 | 7,490 | |
| 5. | 1,790 | 5,090 | 10. | 3,790 | 8,754 | |
|
|
| Use the high-low method to calculate the variable component of the cost of sales. (Round your answer to 2 decimal places. Omit the “$” sign in your response.) |
| Use the high-low method to calculate the fixed component of the cost of sales. (Omit the “$” sign in your response.) |
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3.
award:
3 out of
3.00 points
Exercise 22-9 Contribution margin L.O.A2
| A pants maker is designing a new line of pants called the Redbird. The pants will sell for $330 per pair and cost $260.70 per pair in variable costs to make. |
| (1) | Compute the contribution margin per pair. (Round your answer to 2 decimal places. Omit the “$” sign in your response.) |
| (2) | Compute the contribution margin ratio. (Round your intermediate calculation to 2 decimal places. Omit the “%” sign in your response.) |
4.
award:
3 out of
3.00 points
Exercise 22-12 Income reporting and break-even analysis L.O. C2
| Apollo Company manufactures a single product that sells for $310 per unit and whose total variable costs are $248 per unit. The company’s annual fixed costs are $992,000. |
| (1) | Prepare a contribution margin income statement for Apollo Company at the break-even point. (Leave no cells blank – be certain to enter “0” wherever required. Input all amounts as positive values. Omit the “$” sign in your response.) |
| (2) | Assume if the company’s fixed costs increase by $145,000, what amount of sales (in dollars) is needed to break even? (Omit the “$” sign in your response.) |
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