Homework Answers
Contribution margin income statement
For the year ended December 31
| Sales revenue | 1002000 |
| Less: Variable expense | |
| Cost of goods sold | 672000 |
| Variable selling and administrative expense (19600+9080) | 28680 |
| Variable website expense (60000*25%) | 15000 |
| Variable operating expense | 1740 |
| Contribution margin | 284580 |
| Less; Fixed cost | |
| Fixed selling and administrative expense | 36320 |
| Fixed website expense | 45000 |
| Fixed operating expense | 15660 |
| Operating income | 187600 |
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Then two screen shots to show the drop down options. I am not
sure that this is an exhaustive list but I think so.
Precious Pets is a specialty pet gift shop selling exotic pet-related items online. The shop has no physical location. Results for last year are shown next: (Click the icon to view the results.) For internal planning and decision-making purposes, the owner of Precious Pets would like to translate the company's income statement into the contribution margin...
BH (Cick the icon to view the results.) For internal planning and decision-making purposes, the owner of Fabulous Famigos would like to translate the company's income statement into the contribution margin format Since Fabulous Flamingos is online only los cost of goods sold is variable. A large portion of the wing and marketing expenses consists of freight-out charges ($19,500), which were also variable. Only 20% of the remaining selling and marketing expenses and 25% of the website expenses were variable...
Donald Company prepared the following full-absorption-costing income statement for the year ended May 31, 2013: Sales (16,000 units) $320,000 Cost of goods sold 216,000 Gross margin $104,000 Selling and administrative expenses 46,000 Operating income $58,000 Additional information follows: 17,500 units are produced. Selling and administrative expenses include $1.50 of variable cost per unit sold. Variable manufacturing costs were $11 per unit. Required: Prepare a variable-costing income statement for the same period.
absorption Statement Saxon, Inc. Absorption Costing Income Statement For the Year Ended December 31 $1,125,000.00 1 Sales 2 Cost of goods sold: Beginning inventory Cost of goods manufactured $0.00 840,000.00 (210,000.00) Ending inventory Total cost of goods sold Gross profit 630,000.00 $495,000.00 275,000.00 $220,000.00 Selling and administrative expenses Income from operations My Work All work saved. Email in riable Statement Saxon, Inc. Variable Costing Income Statement For the Year Ended December 31 $1,125,000.00 Sales 2 Variable cost of goods sold:...
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Absorption and Variable Costing Income Statements During the first month of operations ended July 31, Wolaning manufactured 2.400 flat panel televisions, of which 2.000 were ok Operating data for the month w $2.150.000 a s foto Det materials Direct labor Variable manufacturing cost a cturing cost Selling and strive expenses Variable Food $960,000 420,000 156.000 2000 F 1.824.000 5204.000 96.000 300.000 2. Prepare an income statement based on the variable costing concept. YoSan Inc. Variable Costing Income Statement For the...
i Data Table - X Bountiful Bean Coffee Contribution Margin Income Statement Month Ended July 31 ig Sales revenue 144,000 e Less variable expenses: Cost of goods sold 57,500 00 Marketing expense 10,000 50 4,500 72,000 General and administrative expense 50 Contribution margin 72,000 Less fixed expenses: 33,600 Marketing expense 50 8,400 42,000 General and administrative expense S 30,000 Operating income S O Done Print nsv P7-66A (similar to) Question Heps The contributon margin income statement of Bountiful Bean Collee...
Shown here is an income statement in the traditional format for a firm with a sales volume of 7,800 units. Cost formulas also are shown: Revenues Cost of goods sold ($5,600+$2.25/unit) Gross profit Operating expenses $34,500 23,150 $11,350 Selling ($1,190 +$0.10/unit) Administration ($3,900 $0.20/unit) 1,970 5,460 $ 3,920 Operating income Required a. Prepare an income statement in the contribution margin format. Contribution Margin Income Statement Revenue Variable expense Cost of goods sold Selling expenses Administrative expenses Total variable expenses Contribution...
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