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Determine the revenue that is needed

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Question - The year-end income statement for Sophie Corporation is presented below:

Sophie Corporation Income Statement

For the Year Ended December 31, 2019

Sales (540 units) $35,100

Cost of Goods Sold Labor $8,775

Material $10,530 Fixed Overhead $1,755 $21,060

Gross Profit $14,040Administrative Expense

Fixed $5,265 Variable $3,510 $8,775

Operating Income $5,265

Do not enter dollar signs or commas in the input boxes.

Round all answers to the nearest whole number.

For Unit calculations round your answers up to the nearest whole number.

a) Calculate the Contribution Margin and Operating Income for the year.

b) Calculate the contribution margin ratio.

c) Calculate the break-even sales and break-even units.

d) Suppose the company would like to generate an operating profit of $5,000. Determine the revenue that is needed to obtain this target, and calculate the number of units that need to be produced to meet this goal.

e) Given the company's current yearly sales amount is $35,100, what is the margin of safety in dollars and in units?

Reference no: EM133125275

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