Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer in excel format, thank you! projec

please Answer in Excel format, thank you! Project 1: CVP Income Statement (10...

50.1K

Verified Solution

Question

Accounting

image
please Answer in Excel format, thank you!
Project 1: CVP Income Statement (10 points) Instructions: Prepare your solutions in Excel, and upload your Excel file to Moodle by the deadline specified by your instructor. Do NOT email your file! The following information pertains to Fun in the Sun, Inc., a jet ski manufacturer: $ Budgeted production costs for the coming year: Direct materials per ski Direct labor per ski Variable overhead per ski Total fixed overhead 575 280 70 44,850 Budgeted selling and administrative costs for the coming year: Fixed selling & admin expense $ 102,000 Sales commission per ski 75 In the coming year, Fun in the Sun plans to produce and sell 710 skis at a price of $1,330 each. Instructions for Project 1: 1. Prepare a CVP income statement. 2. Calculate the breakeven point in units and sales dollars. 3. Calculate the margin of safety. 4. Calculate the margin of safety ratio. 5. If Fun in the Sun wants to earn net income of $165,000, how many units must it sell? Project 1: CVP Income Statement (10 points) Instructions: Prepare your solutions in Excel, and upload your Excel file to Moodle by the deadline specified by your instructor. Do NOT email your file! The following information pertains to Fun in the Sun, Inc., a jet ski manufacturer: $ Budgeted production costs for the coming year: Direct materials per ski Direct labor per ski Variable overhead per ski Total fixed overhead 575 280 70 44,850 Budgeted selling and administrative costs for the coming year: Fixed selling & admin expense $ 102,000 Sales commission per ski 75 In the coming year, Fun in the Sun plans to produce and sell 710 skis at a price of $1,330 each. Instructions for Project 1: 1. Prepare a CVP income statement. 2. Calculate the breakeven point in units and sales dollars. 3. Calculate the margin of safety. 4. Calculate the margin of safety ratio. 5. If Fun in the Sun wants to earn net income of $165,000, how many units must it sell

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students