any help filling in these blanks is appreciated (c) Prepare Anthony's monthly contribution format income statement. Assume that he teaches 4,500 clients. (Round per unitvalues to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 1,234,.)Per UniAnthony Herrera recently fulfilled his long-time dream of opening a gym that offers spinning exercise classes for $10 perperson. To differentiate his gym and better serve his clients, Anthony provides a towel, a bottle of water, and an after-workoutprotein shake to each person participating in a class, at a cost of $2.65 per person. Anthony employs four part-time instructorsand pays them each $1,500 per month. He also pays himself a monthly salary of $6,500. Anthony's other monthly costs are$1,800 for rent, $1,350 for depreciation on his 30 bikes, and $1,425 in utilities and insurance.(a) What is Anthony's contribution margin per unit? (Round answer to 2 decimal places, e.g. 52.75.)Contribution margin2$7.35per unit(b) What is Anthony's contribution margin ratio? (Round answer to 2 decimal places, e.g. 52.75.)Contribution margin ratio277.35(c) Prepare Anthony's monthly contribution format income statement. Assume that he teaches 4,500 clients. (Round per unitvalues to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 1,234.)

For a specific time period, an income statement describes a company's sales, costs, and overall…

c) Prepare Anthony's monthly contribution format income statement Assume that he teaches 4,500 dients. (Round per unit ralues to 2 decimal places, eg. 5275 and all other answers to 0 decimal places, eg 1,234) Per Uni %24

c) Prepare Anthony's monthly contribution format income statement Assume that he teaches 4,500 dients. (Round per unit ralues to 2 decimal places, eg. 5275 and all other answers to 0 decimal places, eg 1,234) Per Uni %24

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter6: Business Expenses

Section: Chapter Questions

Problem 25P

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

any help filling in these blanks is appreciated

(c) Prepare Anthony's monthly contribution format income statement. Assume that he teaches 4,500 clients. (Round per unit
values to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 1,234,.)
Per Uni
Anthony Herrera recently fulfilled his long-time dream of opening a gym that offers spinning exercise classes for $10 per
person. To differentiate his gym and better serve his clients, Anthony provides a towel, a bottle of water, and an after-workout
protein shake to each person participating in a class, at a cost of $2.65 per person. Anthony employs four part-time instructors
and pays them each $1,500 per month. He also pays himself a monthly salary of $6,500. Anthony's other monthly costs are
$1,800 for rent, $1,350 for depreciation on his 30 bikes, and $1,425 in utilities and insurance.
(a) What is Anthony's contribution margin per unit? (Round answer to 2 decimal places, e.g. 52.75.)
Contribution margin
2$
7.35
per unit
(b) What is Anthony's contribution margin ratio? (Round answer to 2 decimal places, e.g. 52.75.)
Contribution margin ratio
277.35
(c) Prepare Anthony's monthly contribution format income statement. Assume that he teaches 4,500 clients. (Round per unit
values to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 1,234.)

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