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(Answered)-4. Presented here is the income statement for Big Surf, Inc., for
4.?
Presented here is the income statement for Big Surf, Inc., for the month of May: |
?
? | ? | ? | ? |
??Sales | $ | 60,500 | ? |
??Cost of goods sold | ? | 52,500 | ? |
? | ? | ? | ? |
??Gross profit | $ | 8,000 | ? |
??Operating expenses | ? | 15,700 | ? |
? | ? | ? | ? |
??Operating loss | $ | (7,700 | ) |
? | ? | ? | ? |
? |
Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 18%. |
???
Required: | |
a. | Rearrange the preceding income statement to the contribution margin format. |
? | ?____________________________ __________________________ ____________________________ __________________________ ____________________________ __________________________ ____________________________ __________________________ ____________________________ __________________________ |
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b. | If sales increase by 10%, what will be the firm's operating income (or loss)? (Round your answer to the nearest whole dollar.) |
? | ?________________???? ________________________ |
????????
c. | Calculate the amount of revenue required for Big Surf, Inc., to break even. (Round your answer to the nearest whole dollar.) Break even:? ________________________ |
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DATE ANSWEREDOct 07, 2020
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