Fill in the missing amounts in each of the following eight case situations. Treat each case independently. (Hint: One way to find themissing amounts would be to prepare a contribution margin income statement for each case, enter the known data, and then computethe missing items.)a. Assume that only one product is being sold in each of the following four case situations: (Negatlve omounts should be Indicated bya mlnus sign. Enter your contributlon margln answers as per unlt dollor values. Enter your answers rounded to the nearest wholenumber.)FixedЕxpensesNet Income(Loss)VariableContributionCaseUnits SoldSalesExpensesMargin14,000196,000$9 per unit46.0001106,600$16 per unit40%31,50059,4001510,0003.9,900282,000$31 per unit104,000(8,000)4b. Assume that more than one product is being sold in each of the following four case situations: (Negative omounts should beIndicated by a mlnus sign.)AverageContributionMargin(percentage)VariableFixedNet IncomeCaseSalesExpensesExpenses(Loss)206,0001500,000390,000273,00081,00060129.00021.0004в00.000390,000(8.000)%242

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Description: Fill in the missing amounts in each of the following eight case situations. Treat each case independently. (Hint: One way to find themissing amounts would be to prepare a contribution margin income statement for each case, enter the known data, and

Income statement (IS) is prepared using variable costing as well as absorption costing. Under…

Business

Accounting

a. Assume that only one product is being sold in each of the following four case situations: (Negative omounts should be Indica a minus sign. Enter your contributlon margin answers as per unit dollar values. Enter your answers rounded to the nearest whole number.)

a. Assume that only one product is being sold in each of the following four case situations: (Negative omounts should be Indica a minus sign. Enter your contributlon margin answers as per unit dollar values. Enter your answers rounded to the nearest whole number.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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