Total number of units sold was 50,000 units. Variable cost per unit was 9$, Selling price was 15$ and Fixed cost was $40,000.Prepare Income Statement.Prepare new Income statement if sales decreased by 25%Prepare new Income statement if sales increased by 10% and Selling Price decreased by 1$Prepare new Income statement if sales decreased by 10% and variable cost increased by 2$Prepare new Income statement if fixed cost increased by $10,000, selling price increased by 50 cents, sales increased by 12 %

The Numerical has covered the concept of Income Statement. In this numerical, we use the…

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Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter7: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 46E: Lotts Company produces and sells one product. The selling price is 10, and the unit variable cost is...

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Total number of units sold was 50,000 units. Variable cost per unit was 9$, Selling price was 15$ and Fixed cost was $40,000.

Prepare Income Statement.
Prepare new Income statement if sales decreased by 25%
Prepare new Income statement if sales increased by 10% and Selling Price decreased by 1$
Prepare new Income statement if sales decreased by 10% and variable cost increased by 2$
Prepare new Income statement if fixed cost increased by $10,000, selling price increased by 50 cents, sales increased by 12 %

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