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The 2011 income statement for Panorama Ltd is as follows:PANORAMA LTDIncome Statement for the year ended 31 December, 2011Sales (50,000 units) $ 1,250,000Variable Costs $ 750,000Contribution Margin $ 500,000Fixed Costs $ 580,000Net Profit (Loss) $ (80,000)Required:
Answer the following independent questions and show computations using the contribution margin technique to support your answers:
a) What was the company's break-even point in sales dollars in 2011?b) How many additional units would the company have had to sell in 2011 in order to earn a net profit of $50,000.c) If the company is able to reduce variable costs by $2.50 per unit in 2012 and other costs and unit revenues remain unchanged, how many units will the company have to sell in order to earn a net profit of $60,000?
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