Organize the below items into a properly adjusted income statement: Gross Sales, Variable Marketing, Net Sales,...
| Organize the below items into a properly adjusted income statement: |
Gross Sales, Variable Marketing, Net Sales, Labor, Tooling, Materials, Option Costs, Package Costs, Freight, Overhead, Warranty, Engineering, Depreciation, Total Variable Cost, Contribution Margin, Total Fixed Cost, Tariffs, Net Revenue, After-tax, Gross profit.
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Organize the below items into a properly adjusted income
statement:
Gross Sales, Variable Marketing, Net Sales,...
omheducation.com 2 and 3) Exercise 2-54 (Algo) Gross Margin and Contribution Margin Income Statem The following...
omheducation.com 2 and 3) Exercise 2-54 (Algo) Gross Margin and Contribution Margin Income Statem The following data are from the accounting records of Niles Castings for year 2 87,009 Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs $ 270,000 60,000 32,eee 11,000 43,000 16,500 36,000 ok ences Required: a. Prepare a gross margin income statement. b....
Smithsborough, Inc. had the following profit and loss statement for the year ending 2009 $50,000,000 Sales Cost of goods sold Gross Margin Marketing Expenses 10,000.000 40,000,000 Sales expenses...
Smithsborough, Inc. had the following profit and loss statement for the year ending 2009 $50,000,000 Sales Cost of goods sold Gross Margin Marketing Expenses 10,000.000 40,000,000 Sales expenses $10,000,000 Promotion expenses 4.000,000 14,000,000 General and Administrative Expenses Managerial salaries and expenses for the marketing function $1,000,000 Indirect overhead 6.000,000 7000,000 Net profit before income tax $19,000,000 Determine the following ratios: a. gross margin percentage b. net profit percentage c. operating expense percentage d. net marketing contribution e. marketing return on...
The income statement of Leang's Luggage includes the items listed below: Net sales $875,000 Gross profit 305,000 Be...
The income statement of Leang's Luggage includes the items listed below: Net sales $875,000 Gross profit 305,000 Beginning inventory 75,000 Purchase discounts 12,000 Purchase returns and allowances 8,000 Freight-in 10,000 Operating expenses 320,000 Purchases 560,000 Instructions Use the appropriate items listed above as a basis for determining: (a) Cost of goods sold. (b) Cost of goods available for sale. (c) Ending inventory.
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and...
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 35 per unit 225,000 190 per unit 20 per unit 30 per unit $ 185,000 $ 5,000 $ 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a...
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and...
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 35 per unit 215,000 205 per unit 19 per unit 34 per unit $ 205,000 $ 5,000 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a gross...
How are variable costs calculated in requirement 4 on the income statement? (3,575,000) British Productions performs...
How
are variable costs calculated in requirement 4 on the income
statement? (3,575,000)
British Productions performs London shows. The average show sells 1,300 tickets at $60 per ticket. There year. No additional shows can be held as the theater is also used by other production companies. The avera cast of 65, each earning a net average of $340 per show. The cast is paid after each show. The other variable program-printing cost of $8 per guest. Annual fixed costs total...
Direct Materials Fixed Manufacturing overhead costs Sales Price Variable Manufacturing overhead Direct labor Fixed marketing and...
Direct Materials Fixed Manufacturing overhead costs Sales Price Variable Manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative cost $25 per unit $157,000 $85 per unit $14 per unit $22 per unit $112,000 20,000 $7 per unit Calculate the contribution margin.
The following data are from the accounting records of Niles Castings for year 2: Units produced...
The following data are from the accounting records of Niles Castings for year 2: Units produced and sold 84,000 Total revenues and costs Sales revenue $ 280,000 Direct materials costs 65,000 Direct labor costs 32,000 Variable manufacturing overhead 16,000 Fixed manufacturing overhead 48,000 Variable marketing and administrative costs 14,500 Fixed marketing and administrative costs 39,000 a. Prepare a gross margin income statement sales revenue variable manufacturing costs fixed manufacturing costs gross margin fixed marketing and administrative costs variable marketing and...
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...
Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the income...
Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December: On Company Off Company Materials inventory, December 1 $71,830 $94,820 Materials inventory, December 31 (a) 107,150 Materials purchased 182,450 213,350 Cost of direct materials used in production 192,500 (a) Direct labor 270,800 (b) Factory overhead 84,040 106,200 Total manufacturing costs incurred in December (b) 613,490 Total manufacturing...
omheducation.com 2 and 3) Exercise 2-54 (Algo) Gross Margin and Contribution Margin Income Statem The following data are from the accounting records of Niles Castings for year 2 87,009 Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs $ 270,000 60,000 32,eee 11,000 43,000 16,500 36,000 ok ences Required: a. Prepare a gross margin income statement. b....
Smithsborough, Inc. had the following profit and loss statement for the year ending 2009 $50,000,000 Sales Cost of goods sold Gross Margin Marketing Expenses 10,000.000 40,000,000 Sales expenses $10,000,000 Promotion expenses 4.000,000 14,000,000 General and Administrative Expenses Managerial salaries and expenses for the marketing function $1,000,000 Indirect overhead 6.000,000 7000,000 Net profit before income tax $19,000,000 Determine the following ratios: a. gross margin percentage b. net profit percentage c. operating expense percentage d. net marketing contribution e. marketing return on...
The income statement of Leang's Luggage includes the items listed below: Net sales $875,000 Gross profit 305,000 Beginning inventory 75,000 Purchase discounts 12,000 Purchase returns and allowances 8,000 Freight-in 10,000 Operating expenses 320,000 Purchases 560,000 Instructions Use the appropriate items listed above as a basis for determining: (a) Cost of goods sold. (b) Cost of goods available for sale. (c) Ending inventory.
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 35 per unit 225,000 190 per unit 20 per unit 30 per unit $ 185,000 $ 5,000 $ 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a...
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 35 per unit 215,000 205 per unit 19 per unit 34 per unit $ 205,000 $ 5,000 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a gross...
How
are variable costs calculated in requirement 4 on the income
statement? (3,575,000)
British Productions performs London shows. The average show sells 1,300 tickets at $60 per ticket. There year. No additional shows can be held as the theater is also used by other production companies. The avera cast of 65, each earning a net average of $340 per show. The cast is paid after each show. The other variable program-printing cost of $8 per guest. Annual fixed costs total...
Direct Materials Fixed Manufacturing overhead costs Sales Price Variable Manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative cost $25 per unit $157,000 $85 per unit $14 per unit $22 per unit $112,000 20,000 $7 per unit Calculate the contribution margin.
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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