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Compute the overall contribution margin (CM) ratio.
Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below:
Claimjumper
Makeover
Total
Sales
$30,000
$70,000
$100,000
Less variable expanses
20,000
50,000
70,000
Contribution margin
$10,000
$20,000
30,000
Less fixed expenses
24,000
Net operating income
$6,000
Required:
1. Compute the overall contribution margin (CM) ratio for the company. 2. Compute the overall break-even point for the company in sales dollars. 3. Verify the overall break-even point for the company by constructing a contribution format income statement showing the appropriate levels of sales for the two products. 4. Jamil Company, which has only one product, has provided the following data concerning its most recent month of operations:
Selling price
$71
Units in beginning inventory
400
Units produced
8,100
Units sold
8,200
Units in ending inventory
300
Variable cost per unit:
Direct Materials
$20
Direct Labor
$15
Variable manufacturing overhead
$6
Variable selling and administrative
$4
Fixed costs:
Fixed manufacturing overhead
$64,800
Fixed selling and administrative
$139,400
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