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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 Dynamic Total Sales CM ratio $ 740,000 62% Sure Shot $ 260,000 75% $ 1,000,000 Fixed expenses total $586.000 per month 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 $45,000 a month, by how much would you expect the monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution format income statement for the company as a whole. (Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Flight Dynamic Sure Shot Total Company Amount % Amount Amount Required % Required 2 > %
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 Total Flight Dynamic $ 740,000 Sales Sure Shot $ 260,000 75% $1,000,000 ? CM ratio 62% Fixed expenses total $586,000 per month 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 $45.000 a month, by how much would you expect the monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the company's break-even point in dollar sales based on the current sales mix? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales < Required 1 Required 3 >
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 Total Flight Dynamic $ 740,000 Sales CM ratio Sure Shot $ 260,000 75% $ 1,000,000 ? 62% Fixed expenses total $586,000 per month 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 $45,000 a month, by how much would you expect the monthly net operating income to increase? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 If sales increase by $45,000 a month, by how much would you expect the monthly net operating income to increase? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Net operating income increases by < Required 2 Required 38
Sales Variable expenses Contribution margin Claimjumper $ 118,000 36,400 Makeover $ 59,000 7,850 Total $177,000 44,250 132,750 86,850 $ 81,600 $ 51,150 Fixed expenses Net operating income $ 45,900 Required: 1. What is the overall contribution margin (CM) ratio for the company? 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Lucido Products Contribution Income Statement Claimjumper Makeover Total Variable expenses Contribution margin Fixed expenses Net operating income (loss) < Required 2 $ 0 Required 3 >