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Create contribution format income statement for the company

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Reference no: EM132611441

Olongapo Sports Corporation distributes two premium golf balls-the Flight Dynamic and the Sure Shot. Monthly sales and the contribution margin ratios for the two products follow:

Product

                               Flight Dynamic                Sure Shot                      Total

Sales . . . . . . . . .  $150,000                    $250,000                  $400,000

CM ratio . . . . . . . 80%                                  36%                          ?

Fixed expenses total $183,750 per month.

Required:

Question 1. Make a contribution format income statement for the company as a whole. Carry computations to one decimal place.

Question 2. Compute the break-even point for the company based on the current sales mix.

Question 3. If sales increase by $100,000 a month, by how much would you expect net operating income to increase? What are your assumptions?

Reference no: EM132611441

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