Required: 1-a. Prepare a contribution format income statement for the game last year.
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- Magic Realm, Incorporated, has developed a new fantasy board game. The company sold 55,800 games last year at a selling price of $62 per game. Fixed expenses associated with the game total $1,023,000 per year, and variable expenses are $42 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 70,308 games next year (an increase of 14,508 games, or 26%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year? b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer.)Magic Realm, Incorporated, has developed a new fantasy board game. The company sold 26,400 games last year at a selling price of $64 per game. Fixed expenses associated with the game total $440,000 per year, and varlable expenses are $44 per game. Production of the game is entrusted to a printing contractor. Varlable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format Income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 33,792 games next year (an Increase of 7,392 games, or 28%, over last year). Given this assumption: a. What is the expected percentage Increase In net operating Income for next year? b. What Is the expected amount of net operating Income for next year? (Do not prepare an Income statement; use the degree of operating leverage to compute your answer.) Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2…Magic Realm, Incorporated, has developed a new fantasy board game. The company sold 60,000 games last year at a selling price of $60 per game. Fixed expenses associated with the game total S1,100,000 per year, and variable expenses are $40 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year.
- Magic Realm, Incorporated, has developed a new fantasy board game. The company sold 26,400 games last year at a selling price of $64 per game. Fixed expenses associated with the game total $440,000 per year, and varlable expenses are $44 per game. Production of the game is entrusted to a printing contractor. Varlable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format Income statement for the game last year. 1-b. Compute the degree of operating leverage. 2 Management is confident that the company can sell 33,792 games next year (an increase of 7,392 games, or 28%, over last year). Glven this assumption: a. What is the expected percentage Increase In net operating Income for next year? b. What Is the expected amount of net operating Income for next year? (Do not prepare an Income statement; use the degree of operating leverage to compute your answer.) Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2…Magic Realm, Inc., has developed a new fantasy board game. The company sold 42,500 games last year at a selling price of $65 per game. Fixed expenses associated with the game total $765,000 per year, and variable expenses are $45 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 51,425 games next year (an increase of 8,925 games, or 21%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year? b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer.) Req 1A Req 1B Req 2 Prepare a contribution format income statement for the game…Magic Realm, Incorporated, has developed a new fantasy board game. The company sold 19,000 games last year at a selling price of $68 per game. Fixed expenses associated with the game total $285,000 per year, and variable expenses are $48 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 22,990 games next year (an increase of 3,990 games, or 21%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year? b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer.) Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2…
- Magic Realm, Incorporated, has developed a new fantasy board game. The company sold 38,000 games last year at a selling price of $61 per game. Fixed expenses associated with the game total $665,000 per year, and variable expenses are $41 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1h Compute theMagic Realm, Incorporated, developed a new fantasy board game and sold 47,500 units last year at a selling price of $66 per game. Fixed expenses associated with the game are $855,000 per year, and variable expenses are $46 per game. Production of the game was outsourced to a printing contractor, so variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 61,750 games next year (an increase of 14,250 games, or 30%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year? b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer.) Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2…Magic Realm, Inc., has developed a new fantasy board game. The company sold 15,000 games last year at a selling price of $20 per game. Fixed expenses associated with the game total $182,000 per year, and variable expenses are $6 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor.Required:1. Prepare a contribution format income statement for the game last year and compute the degree of operating leverage.2. Management is confident that the company can sell 18,000 games next year (an increase of 3,000 games, or 20%, over last year). Given this assumption:a. What is the expected percentage increase in net operating income for next year?b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer.)
- Magic Realm, Inc., has developed a new fantasy board game. The company sold 15,000 games last year ata selling price of $20 per game. Fixed costs associated with the game total $182,000 per year, and variablecosts are $6 per game. Production of the game is entrusted to a printing contractor. Variable costs consistmostly of payments to this contractor.Required:1. Prepare a contribution format income statement for the game last year and compute the degree ofoperating leverage.2. Management is confident that the company can sell 18,000 games next year (an increase of 3,000games, or 20%, over last year). Compute:a. The expected percentage increase in net operating income for next year.b. The expected total dollar net operating income for next year. (Do not prepare an income statement;use the degree of operating leverage to compute your answer.)Magic Realm, Inc. has developed a new fantasy board game. The company sold 15,000 games last year at a selling price of $20 per game. Fixed costs associated with the game total $182,000 per year, and variable costs are $6 per game. Production of the game is entrusted to a printing contractor. Variable costs consist mostly of payments to this contractor. Required: 1. 2. Prepare an income statement for the game last year and compute the degree of operating leverage. Management is confident that the company can sell 18,000 games next year (an increase of 3,000 games, or 20%, over last year). Compute: a. b. The expected percentage increase in net income for next year. The expected total dollar net income for next year.Roadside Inc. manufactures the Megalite, and is reviewing the product's cost structure. Accounting records show these costs:factory space: $250,000 per yearinsurance: $47,000 per yearsupervisor salaries: $125,000 per yearmaterials: $5.00 per lampdirect labor: $2.69 per lamprecycling charge: $0.37 per lampRoadside Inc sells the Megalite to wholesalers for $13.69 each. Calculate Roadside's contribution margin as percent of selling price on the Megalite. (Rounding: tenth of a percent. Report 25.3%, for example, as "25.3".)