Please help me with correct answer thanku 1. Assume Hudson has a target income of $167.000. What amount of sales (in dollars) is needed to produce this target income?2. If Hudson achieves its target income, what is its margin of safety (in percent)?Note: Round your answer to 1 decimal place.Answer is complete but not entirely correct.1. Dollar sales for target income2. Margin of safety20.0 Student questionRequired informationSkip to question[The following information applies tothe questions displayed below.]Hudson Company reports thefollowing contribution margin incomestatement.HUDSON COMPANYContribution MarginIncome StatementFor Year EndedDecember 31Sales (10,100 units at $$300 each)Variable costs (10,100units at $240 each)Contribution marginFixed costsIncome3,030,0002,424,000606,000468,000$ 138,000

MARGIN OF SAFETYSales Above the Break-Even Point is Called Margin of Safety Sales.Margin of Safety…

1. Assume Hudson has a target income of $167.000. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target income, what is its margin of safety (in percent)? Note: Round your answer to 1 decimal place. > Answer is complete but not entirely correct. 1. Dollar sales for target income 2. Margin of safety 20.0

1. Assume Hudson has a target income of $167.000. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target income, what is its margin of safety (in percent)? Note: Round your answer to 1 decimal place. > Answer is complete but not entirely correct. 1. Dollar sales for target income 2. Margin of safety 20.0

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter6: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 9E: Contribution margin ratio Young Company budgets sales of 112,900,000, fixed costs of 25,000,000, and...

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