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1、QUIZCH9/101.ContributionFormatversusTraditionalIncomeStatement(10MARKS)Marwick’sPianos,Inc.,purchasespianosfromalargemanufacturerandsellsthemattheretaillevel.Thepianoscost,ontheaverage,$125eachfromthemanufacturer.Marwick’sPianos,Inc.,sellsthepianostoitscustomersatanaveragepriceof$250each.T
2、hesellingandadministrativecoststhatthecompanyincursinatypicalmontharepresentedbelow:CostsCostFormulaSelling:Advertising$800permonthSalessalariesandcommissions$1,200permonth,plus10%ofsalesDeliveryofpianostocustomers$15perpianosoldUtilities$500permonthDepreciationofsalesfacilities$750permont
3、hAdministrative:Executivesalaries$2,000permonthInsurance$250permonthClerical$700permonth,plus$5perpianosoldDepreciationofofficeequipment$400permonthDuringJune,Marwick’sPianos,Inc.,soldanddelivered100pianos.Required:1.PrepareanincomestatementforMarwick’sPianos,Inc.,forJune.Usethetraditional
4、format,withcostsorganizedbyfunction.2.Redo(1)above,thistimeusingthecontributionformat,withcostsorganizedbybehavior.Showcostsandrevenuesonbothatotalandaperunitbasisdownthroughcontributionmargin.3.Refertotheincomestatementyoupreparedin(2)above.Whymightitbemisleadingtoshowthefixedcostsonaperu
5、nitbasis?2.SalesMix;Break-EvenAnalysis;MarginofSafety(10MARKS)IslandNovelties,Inc.,ofPalaumakestwoproducts,HawaiianFantasyandTahitianJoy.Presentrevenue,cost,andsalesdataforthetwoproductsfollow:HawaiianFantasyTahitianJoySellingpriceperunit$20.00$25.00Variableexpensesperunit$14.00$10.00Numbe
6、rofunitssoldannually25,00010,000Fixedexpensestotal$270,000peryear.TheRepublicofPalauusestheU.S.dollarasitscurrency.Required:1.Assumingthesalesmixgivenabove,dothefollowing:a.Prepareacontributionformatincomestatementshowingbothdollarandpercentcolumnsforeachproductandforthecompanyasawhole.b.C
7、omputethebreak-evenpointindollarsforthecompanyasawholeandthemarginofsafetyinbothdollarsandpercent.2.ThecompanyhasjustdevelopedanewproducttobecalledSamoanDelight.Assumethatthecompanycouldsell12,000unitsat$17.50each.Thevariableexpenseswouldbe$14.00each.Thecompan