Marlin Company, a wholesale distributor , has been operating for only a few mont
ID: 2374445 • Letter: M
Question
Marlin Company, a wholesale distributor, has been operating for only a few months. The company sells three products%u2014sinks, mirrors, and vanities. Budgeted sales by product and in total for the coming month are shown below:
Product
240,000
Fixed expenses
$223,600
As shown by these data, net operating income is budgeted at $36,400 for the month, and break-even sales at $430,000.
Assume that actual sales for the month total $500,000 as planned. Actual sales by product are: sinks, $160,000; mirrors, $200,000; and vanities, $140,000.
Prepare a contribution format income statement for the month based on actual sales data. (Input all amounts as positive values except losses which should be indicated by minus sign. Omit the "$" and "%" signs in your response.)
Product
Compute the break-even point in sales dollars for the month, based on your actual data. (Omit the "$" sign in your response.)