29 Jun Jorge Company bottles and distributes B-Lite, a
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Problem 18-2A
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Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 80 cents per bottle. For the year 2014, management estimates the following revenues and costs.
Sales
$ 1,807,900
Selling expenses—variable
$ 68,400
Direct materials
427,000
Selling expenses—fixed
67,400
Direct labor
355,600
Administrative expenses—variable
48,293
Manufacturing overhead—variable
312,000
Administrative expenses—fixed
64,900
Manufacturing overhead—fixed
292,600
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Prepare a CVP income statement for 2014 based on management’s estimates.
JORGE COMPANY
CVP Income Statement (Estimated)
For the Year Ending December 31, 2014
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$ .gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”>
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$ .gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”>
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Calculate variable cost per bottle.(Round variable cost per bottle to 2 decimal places, e.g. 0.25.)
Variable cost per bottle
$ .gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”>
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Compute the break-even point in (1) units and (2) dollars.(Round answers to 0 decimal places, e.g. 1,225.)
(1)
Compute the break-even point
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units
(2)
Compute the break-even point
$ .gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”>
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Compute the contribution margin ratio and the margin of safety ratio.(Round answers to 0 decimal places, e.g. 25%.)
Contribution margin ratio
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%
Margin of safety ratio
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%
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Determine the sales dollars required to earn net income of $ 241,100 .(Round answers to 0 decimal places, e.g. 1,225.)
Required sales dollars
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