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Managerial Acctg Environment

In your monthly Chamber of Commerce meeting you heard that some of your peers running other businesses changed from a traditional income statement approach to a contribution margin approach. Your peers said this helps show the importance of volume levels to the businesses profitability. You know that by using the contribution format income statement you can change what projected profits look like by changing your classification of fixed vs. variable type costs. Prepare a memo to your CFO which does the following: 1. Summarize what a contribution format income statement depicts, as compared to the traditional format. 2. Using the following company data, show how the two income statement formats would look side by side. 3. Explain why the contribution approach is more useful to project profits. As an example, show your calculations when using a projected sales increase of 20%. 4. Using the following data, show how expected profits would be different if there was a sales increase of 10% and she used variable COGS of 50% vs. 60%. As an offset, this implies an increase in fixed COGS of $1,000,000. Company Data to use for Parts 2 and 4 Last year's sales $10,000,000 Variable cost as a % of sales 60% Fixed costs of manufacturing $2,000,000 Variable selling and administrative costs as % of sales 10% Fixed selling and administrative costs $1,000,000 Reported profit $0
In your monthly Chamber of Commerce meeting you heard that some of your peers running other businesses changed from a traditional income statement approach to a contribution margin approach. Your peers said this helps show the importance of volume levels to the businesses profitability.
Assignment ID
784800
Discipline
Type
CREATED ON
28 November 2018
COMPLETED ON
29 November 2018
Price
$30
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28 November 2018
User posted an order for Accounting
28 November 2018
18 writers responded and offered to do the job for a price between $10 and $10
28 November 2018
User contacted writer carkim
28 November 2018
User hired writer carkim who offered a price of $10 for the job and has experience doing similar assignments
29 November 2018
Writer completed order Managerial Acctg Environment for 1 day, meeting the deadline
29 November 2018
User accepted the job right away and completed the payment
29 November 2018
User left a positive review
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