Miller-Nobles (6e/12e) - Ch20/Ch21 v3 (Solved)

accounting

Description

Miller-Nobles (6e/12e) - Ch20/Ch21 v3

 

Project Description:

Miller-Nobles (6e/12e) - Ch20/Ch21 v3

 

Steps to Perform:

Step

Instructions

Points Possible

1

Download and open the excel spreadsheet, Miller-Nobles_6e-12e-Using_Excel_Ch20-Ch21_Start.xlsx. This spreadsheet includes 2 tabs; you will enter all answers on the second tab, ENTERANSWERS1.

(All answers should be entered in the blue highlighted cells.)

0

2

The Oceanside Garden Nursery buys flowering plants in four-inch pots for $1.00 each and sells them for $2.50 each. Management budgets monthly fixed costs of $2,100 for sales volumes between 0 and 5,000 plants.

Use the contribution margin approach to compute the company's monthly breakeven point in units. (7 pts)  

(Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.)

7

3

Use the contribution margin ratio approach to compute the breakeven point in sales dollars. (2 pts)

(Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.)

2

4

Use the contribution margin approach to compute the monthly sales level (in units) required to earn a target operating income of $5,000. (1 pt)

(Always use cell references and formulas where appropriate to receive full credit.)

1

5

Once completed, save the project to the desktop. File name can be anything, but DO NOT include spaces. Return to auto-graded excel activity window, and progress to Step 3. Follow on screen instructions.

(To review score, navigate to Results in the MyLab and click on Review link.)

0

Total Points

10

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