Homework Answers
| Computation of Contribution Income Statement | |
| Particular | Amount |
| Unit Sold | 500 |
| Sales Price ( 600*500) | $300,000.00 |
| Less: Variable Expense | |
| Variable cost of Goods Sold (200*500) | -$100,000.00 |
| Selling Expense ( 30*500) | -$15,000.00 |
| Administrative Expense( 75*500) | -$37,500.00 |
| Contribution | $147,500.00 |
| Less: Fixed Expense | |
| Fixed Selling Expense | -$12,000.00 |
| Fixed Admin Expense | -$40,000.00 |
| Net Income | $95,500.00 |
Add Answer to:
Jayce Company Inc. Has the following information ava owing information available for Unit Selling Price of...
34. Jayce Company Inc. Has the following information available for Unit Selling Price of Kitchen Blender...
34. Jayce Company Inc. Has the following information available for Unit Selling Price of Kitchen Blender Variable Cost of Goods Sold per Blender Selling expense per Blender Administrative expense per Blender Total Fixed Selling Expenses Total Fixed Administrative Costs Units Sold $600 $200 $30 $75 $12,000 $40,000 500 Prepare a Cost-Volume Profit Income Statement in Proper Format:
3 Bangor Company manufactures two products, Product F and Product G The company expects to produce...
3 Bangor Company manufactures two products, Product F and Product G The company expects to produce and sell 1,400 units of Product F and 1,800 units of Product G during the current year. The company uses activity-based costing to compute unit product costs for external reports. Data relating to the company's three activity cost pools are given below for the current year Total Activity Total Activity Cost Pool Machine setups Total Cost Product G Product F $10,800 77,520 510 orders...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $30 $4 $2 $40,000 $30,000 $24,000 $44,000 $180,000 2. Prepare a contribution format income statement Cherokee, Inc. Contribution Format Income Statement Sales. Variable expenses: Cost of goods sold. Selling expense Administrative expenses Fixed expenses: Selling expenses Administrative expenses... Net operating income ....
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 13,000 S 17.00 2.00 $1.00 $19,000 $ 16,000 S 8,000 $ 25,000 $88,000 Required: 1. Prepare a traditional income statement CHEROKEE, INC. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses...
Cherokee Inc. is a merchandiser that provided the following information Number of units sold Selling price...
Cherokee Inc. is a merchandiser that provided the following information Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 10,000 S 15.00 $ 200 $ 1.50 $ 21,000 $ 16,000 $ 9,000 $ 24,000 $ 85,000 Required: 1. Prepare a traditional income statement CHEROKEE, INC. Traditional Income Statement Sales Beginning merchandise inventory Gross margin Selling...
Amount 20,000 30 Number of units sold Selling price per unit Variable selling expense per unit...
Amount 20,000 30 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 2 $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 12,000 $ 16 1 $ 2 $ 21,000 15,000 11,000 $ 25,000 $ 89,000 Required: 1. Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Selling and administrative expenses. 2. Prepare a contribution format income...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 11,000 $ 18 $ 1 $ 1 $ 19,000 $ 14,000 $ 9,000 $ 26,000 $ 90,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement Complete this question by...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Aount 20,000 $ 30 $ 4 $ 2 $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 12,000 S 16.00 $ 2.0 S 1.00 $ 19,000 S 15,000 $ 11,000 S 24,000 $ 87,000 Required: 1. Prepare a traditional income statement. CHEROKEE, INC. Traditional Income Statement Selling and administrative expenses: 2. Prepare a...
34. Jayce Company Inc. Has the following information available for Unit Selling Price of Kitchen Blender Variable Cost of Goods Sold per Blender Selling expense per Blender Administrative expense per Blender Total Fixed Selling Expenses Total Fixed Administrative Costs Units Sold $600 $200 $30 $75 $12,000 $40,000 500 Prepare a Cost-Volume Profit Income Statement in Proper Format:
3 Bangor Company manufactures two products, Product F and Product G The company expects to produce and sell 1,400 units of Product F and 1,800 units of Product G during the current year. The company uses activity-based costing to compute unit product costs for external reports. Data relating to the company's three activity cost pools are given below for the current year Total Activity Total Activity Cost Pool Machine setups Total Cost Product G Product F $10,800 77,520 510 orders...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $30 $4 $2 $40,000 $30,000 $24,000 $44,000 $180,000 2. Prepare a contribution format income statement Cherokee, Inc. Contribution Format Income Statement Sales. Variable expenses: Cost of goods sold. Selling expense Administrative expenses Fixed expenses: Selling expenses Administrative expenses... Net operating income ....
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 13,000 S 17.00 2.00 $1.00 $19,000 $ 16,000 S 8,000 $ 25,000 $88,000 Required: 1. Prepare a traditional income statement CHEROKEE, INC. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses...
Cherokee Inc. is a merchandiser that provided the following information Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 10,000 S 15.00 $ 200 $ 1.50 $ 21,000 $ 16,000 $ 9,000 $ 24,000 $ 85,000 Required: 1. Prepare a traditional income statement CHEROKEE, INC. Traditional Income Statement Sales Beginning merchandise inventory Gross margin Selling...
Amount 20,000 30 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 2 $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 12,000 $ 16 1 $ 2 $ 21,000 15,000 11,000 $ 25,000 $ 89,000 Required: 1. Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Selling and administrative expenses. 2. Prepare a contribution format income...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 11,000 $ 18 $ 1 $ 1 $ 19,000 $ 14,000 $ 9,000 $ 26,000 $ 90,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement Complete this question by...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Aount 20,000 $ 30 $ 4 $ 2 $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 12,000 S 16.00 $ 2.0 S 1.00 $ 19,000 S 15,000 $ 11,000 S 24,000 $ 87,000 Required: 1. Prepare a traditional income statement. CHEROKEE, INC. Traditional Income Statement Selling and administrative expenses: 2. Prepare a...
Most questions answered within 3 hours.
-
Assume that all interest rates in the economy increase from 9
percent to 10 percent. Which...
asked 5 minutes ago -
Describe the function of a Change Control Board.
When calculating Planned Value (PV), what is the...
asked 11 minutes ago -
The customer help center in your company receives calls from
customers who need help with some...
asked 22 minutes ago -
A manufacturer wished to compare the wearing qualities of two
different types of automobile tires, A...
asked 20 minutes ago -
Write a MATLAB script file that will sum all the positive
entries in V and stop...
asked 28 minutes ago -
The objective of this assignment is to demonstrate an
understanding of key course concepts and reflect...
asked 30 minutes ago -
A plant's flower colour is determined by the pathway shown
below:
white1 ----Gene A----->
white2----Gene
B---->Blue...
asked 36 minutes ago -
Sketch an acceleration-versus-time
graph for an object, starting with some initial speed, traveling on
a flat...
asked 44 minutes ago -
Bi2O3(s) + 2C (s) yields 2 Bi (s) + 3 CO (g)
What substances are in...
asked 51 minutes ago -
Describe the relationship between the free energy change for a
spontaneous process and the amount of...
asked 46 minutes ago -
Overproduction of uric acid in the body can be an indication of
cell breakdown. This may...
asked 1 hour ago -
I very foolishly got in a fight with Big Joe during our last
basketball game. He...
asked 1 hour ago