Reference no: EM132782114
Question - Martin's Company had the following functional income statement for the year ended December 31, 2020:
Sales ($20 X 20,000 units) $400,000 Costs of goods sold: Direct materials $ 60,000 Direct labor 40,000 Variable factory overhead 120,000 Fixed factory overhead 50,000 270,000 Gross profit $130,000 Selling and administrative expenses: Variable $ 20,000 Fixed 50,000 70,000 Operating income $ 60,000 There were no beginning and ending inventories. They sold everything they produced.
Required -
a. Calculate the contribution margin per unit.
b. Calculate the contribution margin ratio.
c. What is the break-even point in units?
d. What is the amount of sales in dollars needed to obtain a before-tax target profit of $40,000?
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