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Question - This is a Multiproduct CVP question:
Profitability Analysis for the Year Ended December 31,2010
Audio
Video
Car
Total
Sales
$3,200,000
$1,920,000
$1,280,000
$6,400,000
Less variable costs:
Cost of merchandise
$1,900,000
$1,360,000
$610,000
$3,870,000
Salary, part time staff
$180,000
$100,000
$55,600
$335,600
total variable costs
$2,080,000
$1,460,000
$665,600
$4,205,600
Contribution margin
$1,120,000
$460,000
$614,400
$2,194,400
Contribution margin ratio
0.3500
0.2396
0.4800
0.3429
Less direct fixed costs:
Salary, full time staff
$325,000
$240,000
$220,000
$785,000
$795,000
$394,400
$1,409,400
Less common fixed costs:
Advertising
$115,000
Utilities
$25,000
Other administrative costs
$570,000
Total common fixed costs
$710,000
Profit
$699,400
Required -
a. Calculate sales needed to achieve a profit of $1,800,000, assuming the current mix.
b. Determine the sales of audio, video, and car products in the total sales amount calculated for (a. the question above).
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