Homework Answers
| Income Statement | ||
| Sales | $120,000 | |
| Less: Variable costs: | ||
| Direct Material | $24000 | |
| Direct Labor | 30000 | |
| Variable Factory Overhead | 6000 | |
| Variable selling & Admin | 12000 | (72000) |
| Contribution Margin | $48,000 | |
| Less: Fixed Overhead | ||
| Fixed Factory Overhead | $15000 | |
| Fixed selling & Admin | 21000 | (36000) |
| Net Operating Income | $12,000 | |
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Pacheco Pachinko Manufacturing Income Statement for the Month Ending February 28, 2017 120,000 Sales (4,000 units...
QUESTION 23 Herman's income statement is as follows: Sales (4,000 units) Less Variable Costs Contribution Margin...
QUESTION 23 Herman's income statement is as follows: Sales (4,000 units) Less Variable Costs Contribution Margin $75,000 (24,000) $51,000 Less fixed costs (12,000) Net Income $39,000 What is the unit contribution margin? $10.20 $12.00 $9.75 $12.75
QUESTION 12 Herman's income statement is as follows: Sales (4,000 units) Less Variable Costs Contribution Margin...
QUESTION 12 Herman's income statement is as follows: Sales (4,000 units) Less Variable Costs Contribution Margin $75,000 (24,000) $51,000 Less fixed costs (12,000) Net Income $39,000 If sales increase by 1,000 units, profit will increase by: $10,200 $5,000 $12,750 $9,750
Parkins Company produces and sells a single product. The company's income statement for the most recent...
Parkins Company produces and sells a single product. The company's income statement for the most recent month is given below: $240,000 Sales (6,000 units at $40 per unit) Less Manufacturing costs: Direct materials Direct labor (variable) Variable factory overhead Fixed factory overhead Gross Margin Less selling and other expenses Variable selling and other expenses 24,000 Fixed selling and other expenses 42,000 $48,000 60,000 12,000 30,000 150,000 90,000 Net operating income $24,000 Required: a. Compute the company's monthly break-even point in...
Q.2. Park Company produces and sells a single product. The company's income statement for the most...
Q.2. Park Company produces and sells a single product. The company's income statement for the most recent month is given below: Sales (6,000 units at $40 per unit) ............. $240,000 Less manufacturing costs: Direct materials............. ..... $48,000 Direct labor (variable) ..... .60,000 Variable factory overhead 12,000 Fixed factory overhead 30,000 150,000 Gross margin ..... 90,000 Less selling and other expenses: Variable selling and other expenses ....... 24,000 Fixed selling and other expenses ........... 42,000 66,000 Net operating income...... $ 24,000...
Q.2. Park Company produces and sells a single product. The company's income statement for the most...
Q.2. Park Company produces and sells a single product. The company's income statement for the most recent month is given below: Sales (6,000 units at $40 per unit) ............. $240,000 Less manufacturing costs: Direct materials............. ..... $48,000 Direct labor (variable) ..... .60,000 Variable factory overhead 12,000 Fixed factory overhead 30,000 150,000 Gross margin ..... 90,000 Less selling and other expenses: Variable selling and other expenses ....... 24,000 Fixed selling and other expenses ........... 42,000 66,000 Net operating income...... $ 24,000...
Q.2. Park Company produces and sells a single product. The company's income statement for the most...
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Absorption and variable costing income statements Spaulding Manufacturing Co. has determined the cost of manufacturing a...
Absorption and variable costing income statements Spaulding Manufacturing Co. has determined the cost of manufacturing a unit of product as follows, based on normal production of 100,000 units per year $ 5 Direct materials.. Direct labor Variable factory overhead............ Fixed factory overhead............ Total cost.. Operating statistics for March and April include the following $15 March April Units produced...................... 12,000 8,000 Units sold.......... 8,000 12,000 Selling and administrative expenses (all fixed).. $12,000 $12,000 The selling price is $20 per unit. There...
Last year, Walsh Company manufactured 25,000 units and sold 22,000 units. Production costs were as follows:...
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Frankel Company Traditional Income Statement For the 3 months ending September 30, 2020 Sales in units...
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Question 22 (1 point) Last year, Walsh Company manufactured 25,000 units and sold 22,000 units. Production...
Question 22 (1 point) Last year, Walsh Company manufactured 25,000 units and sold 22,000 units. Production costs were as follows: Direct Materials - $100,000, Direct Labour - $75,000, Variable Manufacturing Overhead - $50,000, Fixed Manufacturing Overhead -$75,000. Total sales were $440,000, total variable selling and administrative expenses were $110,000, and total fixed selling and administrative expenses were $45,000. There was no beginning inventory. Assume that direct labour is a variable cost. What was the operating income under variable costing? A)...
QUESTION 23 Herman's income statement is as follows: Sales (4,000 units) Less Variable Costs Contribution Margin $75,000 (24,000) $51,000 Less fixed costs (12,000) Net Income $39,000 What is the unit contribution margin? $10.20 $12.00 $9.75 $12.75
QUESTION 12 Herman's income statement is as follows: Sales (4,000 units) Less Variable Costs Contribution Margin $75,000 (24,000) $51,000 Less fixed costs (12,000) Net Income $39,000 If sales increase by 1,000 units, profit will increase by: $10,200 $5,000 $12,750 $9,750
Parkins Company produces and sells a single product. The company's income statement for the most recent month is given below: $240,000 Sales (6,000 units at $40 per unit) Less Manufacturing costs: Direct materials Direct labor (variable) Variable factory overhead Fixed factory overhead Gross Margin Less selling and other expenses Variable selling and other expenses 24,000 Fixed selling and other expenses 42,000 $48,000 60,000 12,000 30,000 150,000 90,000 Net operating income $24,000 Required: a. Compute the company's monthly break-even point in...
Q.2. Park Company produces and sells a single product. The company's income statement for the most recent month is given below: Sales (6,000 units at $40 per unit) ............. $240,000 Less manufacturing costs: Direct materials............. ..... $48,000 Direct labor (variable) ..... .60,000 Variable factory overhead 12,000 Fixed factory overhead 30,000 150,000 Gross margin ..... 90,000 Less selling and other expenses: Variable selling and other expenses ....... 24,000 Fixed selling and other expenses ........... 42,000 66,000 Net operating income...... $ 24,000...
Q.2. Park Company produces and sells a single product. The company's income statement for the most recent month is given below: Sales (6,000 units at $40 per unit) ............. $240,000 Less manufacturing costs: Direct materials............. ..... $48,000 Direct labor (variable) ..... .60,000 Variable factory overhead 12,000 Fixed factory overhead 30,000 150,000 Gross margin ..... 90,000 Less selling and other expenses: Variable selling and other expenses ....... 24,000 Fixed selling and other expenses ........... 42,000 66,000 Net operating income...... $ 24,000...
Q.2. Park Company produces and sells a single product. The company's income statement for the most recent month is given below: Sales (6,000 units at $40 per unit) ............. $240,000 Less manufacturing costs: Direct materials............. ..... $48,000 Direct labor (variable) ..... .60,000 Variable factory overhead 12,000 Fixed factory overhead 30,000 150,000 Gross margin ..... 90,000 Less selling and other expenses: Variable selling and other expenses ....... 24,000 Fixed selling and other expenses ........... 42,000 66,000 Net operating income...... $ 24,000...
Absorption and variable costing income statements Spaulding Manufacturing Co. has determined the cost of manufacturing a unit of product as follows, based on normal production of 100,000 units per year $ 5 Direct materials.. Direct labor Variable factory overhead............ Fixed factory overhead............ Total cost.. Operating statistics for March and April include the following $15 March April Units produced...................... 12,000 8,000 Units sold.......... 8,000 12,000 Selling and administrative expenses (all fixed).. $12,000 $12,000 The selling price is $20 per unit. There...
Last year, Walsh Company manufactured 25,000 units and sold 22,000 units. Production costs were as follows: Direct Materials - $100,000, Direct Labour $75,000, Variable Manufacturing Overhead - $50,000, Fixed Manufacturing Overhead -$75,000. Total sales were $440,000, total variable selling and administrative expenses were $110,000, and total fixed selling and administrative expenses were $45,000. There was no beginning inventory. Assume that direct labour is a variable cost. What was the operating income under variable costing? OA) $2,000. B) $9,000. C) $12,000...
Frankel Company Traditional Income Statement For the 3 months ending September 30, 2020 Sales in units July 4,000 August 4,500 September 5,000 Sales $ 400,000 $450,000 $500,000 Cost of goods sold 240,000 270,000 300,000 Gross Margin 160,000 180,000 200,000 Selling & Administrative Expenses: 2 Advertising 21,000 21,000 21,000 3 Shipping 34,000 36,000 38,000 4 Salaries and commissions 78,000 84,000 90,000 -5 Insurance 6,000 6,000 6,000 16 Depreciation 15,000 15 000 15,000 17 Total Selling & Administrative Expenses 154,000 162.000 170,000...
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