Answer Happy

Worldwide Travel uses the contribution margin income statement internally. Worldwide's first quarter results are as follows: (Click the loon to view the income statement.) Worldwide's relevant range is sales of between $140,000 and $675,000. Read the requirements Requirement 1. Prepare contribution margin income statements at sales levels of $220,000 and $430,000 (Hint: Use the contribution margin ratio) Begin by preparing the contribution margin income statement at the $220,000 level. (Round the variable expense rate to the nearest whole percent Enter losses with a minus sign or parentheses.) Worldwide Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Less Fixed expenses Operating income (loss) Now prepare the contribution margin income statement at the $430,000 level. (Round the variable expense rate to the nearest whole percent. Entor losses with a minus sign or parentheses)
le . A B Worldwide Travel Contribution Margin Income Statement Three Months Ended March 31 $ 550,000 192,500 357,500 176,800 180,700 1 2 3 4 Sales revenue 5 Less: Variable expenses 6 Contribution margin 7 Less: Fixed expenses 8 Operating income Print $ $ Done
sales of between $140,000 and $675,000. ments Requirements ntril ribu . 1. Prepare contribution margin income statements at sales levels of $220,000 and $430,000. (Hint: Use the contribution margin ratio.) 2. Compute breakeven sales in dollars. de T n Inc Ende Print Done es - X hargin ratio.) ble percent. Enter losses wit