a) Income statement
Sales | 186000 |
Cost of goods sold (56500+45200) | -101700 |
Gross profit | 84300 |
Selling and administrative expense (17950+14300) | -32250 |
Operating income | 52050 |
b) Contribution format Income statement
Sales | 186000 |
Variable cost (45200+14300) | -59500 |
contribution margin | 126500 |
Fixed cost (56500+17950) | -74450 |
Operating income | 52050 |
Exercise 11-13 Prepare an income statement using the contribution margin approach LO 11-3 AJ Manufacturing Company...
Exercise 11-13 Prepare an income statement using the contribution margin approach LO 11-3 AJ Manufacturing Company incurred $53,500 of fixed product cost and $42,800 of variable product cost during its first year of operation. Also during its first year, AJ incurred $17,050 of fixed and $13,700 of variable selling and administrative costs. The company sold all of the units it produced for $174,000. Required a. Prepare an income statement using the format required by generally accepted accounting Principles (GAAP). AJ...
AJ Manufacturing Company incurred $56,500 of fixed product cost and $45,200 of variable product cost during its first year of operation. Also during its first year, AJ incurred $17,950 of fixed and $14,300 of variable selling and administrative costs. The company sold all of the units it produced for $186.000. Required a. Prepare an income statement using the format required by generally accepted accounting Principles (GAAP) AJ MANUFACTURING COMPANY Income Statement b. Prepare an income statement using the contribution margin...
AJ Manufacturing Company incurred $56,000 of fixed product cost and $44,800 of variable product cost during its first year of operation. Also during its first year, AJ incurred $17,800 of fixed and $14,200 of variable selling and administrative costs. The company sold all of the units it produced for $184.000 Required a. Prepare an income statement using the format required by generally accepted accounting Principles (GAAP) AJ MANUFACTURING COMPANY Income Statement b. Prepare an income statement using the contribution margin...
AJ Manufacturing Company incurred $51,000 of fixed product cost and $40,800 of variable product cost during its first year of operation. Also during its first year, AJ incurred $16,300 of fixed and $13,200 of variable selling and administrative costs. The company sold all of the units it produced for $164,000. Required a. Prepare an income statement using the format required by generally accepted accounting Principles (GAAP). AJ MANUFACTURING COMPANY Income Statement b. Prepare an income statement using the contribution margin...
AJ Manufacturing Company incurred $57,500 of fixed product cost and $46,000 of variable product cost during its first year of operation. Also during its first year, AJ incurred $18.250 of fixed and $14,500 of variable selling and administrative costs. The company sold all of the units it produced for $190,000 Required a. Prepare an income statement using the format required by generally accepted accounting Principles (GAAP). AJ MANUFACTURING COMPANY Income Statement b. Prepare an income statement using the contribution margin...
Check my w AJ Manufacturing Company incurred $50,000 of fixed product cost and $40,000.of variable product cost during its first year of operation. Also during its first year, AJ incurred $16,000 of fixed and $13,000 of variable selling and administrative costs. The company sold all of the units it produced for $160,000. Required a. Prepare an income statement using the format required by generally accepted accounting Principles (GAAP). AJ MANUFACTURING COMPANY Income Statement points b. Prepare an income statement using...
AJ Manufacturing Company incurred $54,500 of fixed product cost and $43,600 of variable product cost during its first year of operation. Also during its first year, AJ incurred $17,350 of fixed and $13,900 of variable selling and administrative costs. The company sold all of the units it produced for $178,000. Required Prepare an income statement using the format required by generally accepted accounting Principles (GAAP). AJ MANUFACTURING COMPANY Income Statement
Problem 11-28 Determining the break-even point and preparing a contribution margin income statement LO 11-5 Ritchie Manufacturing Company makes a product that it sells for $150 per unit. The company incurs variable manufacturing costs of $64 per unit. Variable selling expenses are $17 per unit, annual fixed manufacturing costs are $494,000, and fixed selling andd administrative costs are $237,400 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation...
Problem 11-28 Determining the break-even point and preparing a contribution margin income statement LO 11-5 Ritchie Manufacturing Company makes a product that it sells for $200 per unit. The company incurs variable manufacturing costs of $101 per unit. Variable selling expenses are $19 per unit, annual fixed manufacturing costs are $464,000, and fixed selling and administrative costs are $256,000 per year. Required Determine the break-even point in units and dollars using each of the following approaches: Use the equation method....
Problem 11-28 Determining the break-even point and preparing a contribution margin income statement LO 11-5 Ritchie Manufacturing Company makes a product that it sells for $140 per unit. The company Incurs variable manufacturing costs of $78 per unit. Variable selling expenses are $13 per unit, annual fixed manufacturing costs are $350,000, and fixed selling and administrative costs are $149,800 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation...