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10/30/17, 12)56 PMHW Assignment - Chapter 3

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My Subscriptions / Courses / MBA6203:14281-Managerial Accounting and Budgeting, Fall 2017 / Chapter 3 / HW Assignment - Chapter 3

QUESTION 1 Not yet answered Points out of 11.00

Multiple Product Break-Even Analysis Joe's Tax Service prepares tax returns for low-to middle-income taxpayers. Its service operates January 2 through April 15 at a counter in a local grocery store. All jobs are classified into one of three categories: standard, multiform, and complex. Following is information for last year. Also, last year, the fixed cost of rent, utilities, and so forth were $70,000.

Standard Multiform Complex

Billing rate $70 $145 $270

Average variable costs (30) (75) (150)

Average contribution margin $40 $70 $120

Number of returns prepared 1,750 500 250

Required (a.) Determine Joe's break-even dollar sales volume.

Round contribution margin to three decimal places. Round break-even sales volume to the nearest dollar.

Product Weighted

Selling Price

Weighted Contribution

Margin

Standard $ $

Multiform

Complex

Total $ $

Contribution margin ratio:

Break-even sales volume: $

(b.) Determine Joe's margin of safety in sales dollars.

Round answer to the nearest whole number.

$

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10/30/17, 12)56 PMHW Assignment - Chapter 3

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