Complete the multi product contribution margin income statementwith the given information:Net income earnedduring...Complete the...

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Accounting

Complete the multi product contribution margin income statementwith the given information:
Net income earnedduring most recent period: $                          65,000
Contribution marginratio: 15%
Fixed costs incurred duringmost recent period: $                        175,000
Statutory tax rate: 37%
Operating income generated atbreakeven: $                                   -
Applicable to the FootballDivision
Selling price perfootball $                            18.00
Total variable cost dollarsincurred by Football Division $                        952,088
Quantity of footballs soldduring most recent period:                              64,000
Applicable to the BaseballDivision
Variable cost perbaseball: $                               3.24
Footballs Baseballs Total
Total $ $ per Unit Sales Ratios Total $ $ per Unit Sales Ratios Total $ Sales Ratios*
Revenues 100%
Variable Costs $   952,088
Contribution Margin
Fixed Costs
Operating income
Income Tax
Net income

Answer & Explanation Solved by verified expert

3.8 Ratings (347 Votes)

Footballs Baseballs Total Total per Unit Sales Ratios Total Sales Ratios Total Sales Ratios Revenues 1152000 18 62 702497 38 1854497 100 Variable Costs 952088 15 624235 1576323 Contribution Margin 199912 3 78263 278175 Fixed See Answer

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In: AccountingComplete the multi product contribution margin income statementwith the given information:Net income earnedduring...Complete the multi product contribution margin income statementwith the given information:Net income earnedduring most recent period:$ 65,000Contribution marginratio:15%Fixed costs incurred duringmost recent period:$ 175,000Statutory tax rate:37%Operating income generated atbreakeven:$ - Applicable to the FootballDivisionSelling price perfootball$ 18.00Total variable cost dollarsincurred by Football Division$ 952,088Quantity of footballs soldduring most recent period: 64,000Applicable to the BaseballDivisionVariable cost perbaseball:$ 3.24FootballsBaseballsTotalTotal $$ per UnitSales RatiosTotal $$ per UnitSales RatiosTotal $Sales Ratios*Revenues100%Variable Costs$ 952,088Contribution MarginFixed CostsOperating incomeIncome TaxNet income

Net income earnedduring most recent period:				$ 65,000
Contribution marginratio:				15%
Fixed costs incurred duringmost recent period:				$ 175,000
Statutory tax rate:				37%
Operating income generated atbreakeven:				$ -
Applicable to the FootballDivision
Selling price perfootball				$ 18.00
Total variable cost dollarsincurred by Football Division				$ 952,088
Quantity of footballs soldduring most recent period:				64,000
Applicable to the BaseballDivision
Variable cost perbaseball:				$ 3.24

	Footballs			Baseballs			Total
	Total $	$ per Unit	Sales Ratios	Total $	$ per Unit	Sales Ratios	Total $	Sales Ratios*
Revenues								100%
Variable Costs	$ 952,088
Contribution Margin
Fixed Costs
Operating income
Income Tax
Net income