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$3,500,000 Sales Cost of sales: Direct Material Direct...
Evergreen Corporation manufactures circuit boards and is in the process of preparing next year's budget. The...
Evergreen Corporation manufactures circuit boards and is in the process of preparing next year's budget. The pro forma income statement for the current year is presented below. Sales $ 3,500,000 Cost of sales: Direct Material $ 500,000 Direct labor 250,000 Variable Overhead 275,000 Fixed Overhead 600,000 1,625,000 Gross Profit $ 1,875,000 Selling and General & Admin. Exp. Variable 750,000 Fixed 250,000 1,000,000 Operating Income $ 875,000 The break-even point (rounded to the nearest dollar) for Evergreen Corporation for the current...
A. 2,865,721 B. 3,144,471 C. 2,805,721 D. 2,790,721 $3,800,000 Sales Cost of sales: Direct material Direct...
A. 2,865,721
B. 3,144,471
C. 2,805,721
D. 2,790,721
$3,800,000 Sales Cost of sales: Direct material Direct labor Variable overhead Fixed overhead Gross profit Selling and General & Admin. Exp. Variable Fixed Operating income $530,000 400,000 290,000 750,000 1,970,000 $1,830,000 780,000 280,000 1,060,000 $ 770,000 For the coming year, the management of Evergreen Corporation anticipates a 5 percent decrease in sales, a 10 percent increase in variable costs, and a $60,000 increase in fixed costs. The break-even point for next year...
The following data are for the current year: Sales $700,000 Direct materials 250,000 Direct labor cost...
The following data are for the current year: Sales $700,000 Direct materials 250,000 Direct labor cost 90,000 Variable manufacturing overhead 30,000 Fixed direct manufacturing overhead 38,000 Variable selling and admin expenses 40,000 Fixed indirect selling and admin expenses 130,000 All variable costs are direct costs. Prepare an income statement showing contribution margin, contribution to indirect expenses and net income.
Evergreen Corporation manufactures circuit boards and is in the process of preparing next year's budget. The...
Evergreen Corporation manufactures circuit boards and is in the process of preparing next year's budget. The pro forma income statement for the current year is presented below. Sales $ 3,900,000 Cost of sales: Direct material $ 540,000 Direct labor 450,000 Variable overhead 295,000 Fixed overhead 800,000 2,085,000 Gross profit $ 1,815,000 Selling and General & Admin. Exp. Variable 790,000 Fixed 290,000 1,080,000 Operating income $ 735,000 The contribution margin ratio for the current year is:
Pacheco Pachinko Manufacturing Income Statement for the Month Ending February 28, 2017 120,000 Sales (4,000 units...
Pacheco Pachinko Manufacturing Income Statement for the Month Ending February 28, 2017 120,000 Sales (4,000 units at $30 each) Less Manufacturing Costs Direct Material Direct Labor Variable Factory Overhead Fixed Factory Overhead 24,000 30,000 6,000 15,000 75,000 Gross Margin 45,000 Less Selling & Admin Expense Variable Selling & Admin Fixed Selling & Admin 12,000 21,000 33,000 12,000 Net Operating Income Contribution Margin Format Income Statement Sales
Break-Even in Sales Revenue, Changes in Variables Carmichael Corporation is in the process of preparing next...
Break-Even in Sales Revenue, Changes in Variables Carmichael Corporation is in the process of preparing next year’s budget. The pro forma income statement for the current year is as follows: Sales $1,800,000 Cost of sales: Direct materials $250,000 Direct labor 180,000 Variable overhead 106,000 Fixed overhead 100,000 636,000 Gross profit $1,164,000 Selling and administrative expenses: Variable $400,000 Fixed 350,000 750,000 Operating income $414,000 Required: 1. What is the break-even sales revenue for Carmichael Corporation for the current year? In your...
this is a management systems control subject Given the following financial data: Sales $1200K Direct Materials $500K...
this is a management systems control subject
Given the following financial data: Sales $1200K Direct Materials $500K Direct Labor $250K Variable Factory Overhead Fixed Factory Overhead Variable Selling and Admin Costs $50K $75K $25K Fixed Selling and Admin Costs $60K 1. (2 pts) Write an Absorption Financial Statement using the above data. Include Gross Margin and Operating Income in the statement. 12 04 k Absafption 45 O 2. (2 pts) Using the same basic data in the table above, write...
Assume that Quality Motors use Variable Costing: Sales: $34,000,000 Cost of Direct Materials used in production:...
Assume that Quality Motors use Variable Costing: Sales: $34,000,000 Cost of Direct Materials used in production: $6,200,000 Cost of Direct Labor wages: $8,235,500 Variable Manufacturing Overhead: $7,080,000 Fixed Manufacturing Overhead: $4,950,000 Fixed Selling Expenses: $2,500,000 What is Quality Motors contribution margin and net income? Select one: o a. Contribution Margin: $9,984,500 Net Income: $5,034,500 O b. Contribution Margin: $12,484,500 Net Income: $5,034,500 O C. Contribution Margin: $19,564,500 Net Income: $5,034,500 O d. None of the above, the answer should include...
Barnes Company sells three products: A, B, and C. Budgeted sales by product and in total...
Barnes Company sells three products: A, B, and C. Budgeted sales by product and in total for the coming month are as follows: Product A Product B % of total sales 48% 20% Sales 240,000 100% $100,000 100% Variable exp. 72000 30 80,000 80 Contribution mar. 168,000 70 20,000 20 Fixed expense Product C Total % of total sales 32% 100% Sales 160,000 100% 500,000 100% Variable exp. 88,000 55 240,000 48 Contribution margin 72,000 45 260,000 52 Fixed...
Direct material = $7 Direct Labor = $4 Variable Manufacturing Overhead = $2 Fixed Manufacturing Overhead...
Direct material = $7 Direct Labor = $4 Variable Manufacturing Overhead = $2 Fixed Manufacturing Overhead = $3 Fixed Selling Expense = $3 Fixed Admin Expense = $2 Sales commission = $1 Variable Admin Expense $.50 (Costs are when 10,000 units are produced and sold) Relevant range is 7,500-12,500 units 1) If 8,000 units are produced, what is the average fixed manufacturing cost per unit produced? 2) If 12,500 units are produced, what is the average fixed manufacturing cost per...
A. 2,865,721
B. 3,144,471
C. 2,805,721
D. 2,790,721
$3,800,000 Sales Cost of sales: Direct material Direct labor Variable overhead Fixed overhead Gross profit Selling and General & Admin. Exp. Variable Fixed Operating income $530,000 400,000 290,000 750,000 1,970,000 $1,830,000 780,000 280,000 1,060,000 $ 770,000 For the coming year, the management of Evergreen Corporation anticipates a 5 percent decrease in sales, a 10 percent increase in variable costs, and a $60,000 increase in fixed costs. The break-even point for next year...
The following data are for the current year: Sales $700,000 Direct materials 250,000 Direct labor cost 90,000 Variable manufacturing overhead 30,000 Fixed direct manufacturing overhead 38,000 Variable selling and admin expenses 40,000 Fixed indirect selling and admin expenses 130,000 All variable costs are direct costs. Prepare an income statement showing contribution margin, contribution to indirect expenses and net income.
Pacheco Pachinko Manufacturing Income Statement for the Month Ending February 28, 2017 120,000 Sales (4,000 units at $30 each) Less Manufacturing Costs Direct Material Direct Labor Variable Factory Overhead Fixed Factory Overhead 24,000 30,000 6,000 15,000 75,000 Gross Margin 45,000 Less Selling & Admin Expense Variable Selling & Admin Fixed Selling & Admin 12,000 21,000 33,000 12,000 Net Operating Income Contribution Margin Format Income Statement Sales
this is a management systems control subject
Given the following financial data: Sales $1200K Direct Materials $500K Direct Labor $250K Variable Factory Overhead Fixed Factory Overhead Variable Selling and Admin Costs $50K $75K $25K Fixed Selling and Admin Costs $60K 1. (2 pts) Write an Absorption Financial Statement using the above data. Include Gross Margin and Operating Income in the statement. 12 04 k Absafption 45 O 2. (2 pts) Using the same basic data in the table above, write...
Assume that Quality Motors use Variable Costing: Sales: $34,000,000 Cost of Direct Materials used in production: $6,200,000 Cost of Direct Labor wages: $8,235,500 Variable Manufacturing Overhead: $7,080,000 Fixed Manufacturing Overhead: $4,950,000 Fixed Selling Expenses: $2,500,000 What is Quality Motors contribution margin and net income? Select one: o a. Contribution Margin: $9,984,500 Net Income: $5,034,500 O b. Contribution Margin: $12,484,500 Net Income: $5,034,500 O C. Contribution Margin: $19,564,500 Net Income: $5,034,500 O d. None of the above, the answer should include...
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