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Practice Quiz for chpts 5 and 7
1. Evergreen Corp. has provided the following data:
Sales per period ……………………..
Selling price ………………………….
Variable manufacturing cost ……
Selling expenses …………………….
Administrative expenses …………
1,000 units
$40 per unit
$12 per unit
$5,100 plus 5% of selling price
$3,000 plus 20% of selling price
1.Construct a contribution margin format income statement then answer the following
questions.
2.What is the contribution margin ratio?
3.What is the margin of safety in $’s?
4.If Evergreen wants to achieve a target net income of $49,500, how large do the sales have
to be in $’s?
5. What is the operating leverage when sales are 1000 units? If sales increase by 20%, how
much will net income increase (in percentage)?
2. Alphabet Corporation sells three products: J, K, and L. The following information was taken
from a recent budget:
Total fixed costs are anticipated to be $2,450,000.
Required:
A. Construct a contribution margin statement for Alphabet using the above information.
B. Determine Alphabet’s sales mix in sales dollars.
C. Determine the weighted-average contribution margin and calculate the breakeven point in
sales dollars.
…
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