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3. PREPARATION OF RESPONSIBILITY INCOME STATEMENTS Hal-Marts, Inc., has two sales departments: equipment and clothing. During...
Shown as follows are responsibility income statements for Butterfield, Inc., for the month of March. Sales...
Shown as follows are responsibility income statements for Butterfield, Inc., for the month of March. Sales Variable costs Contribution margin Fixed costs traceable to divisions Division responsibility margin Common fixed costs Income from operations 30 Investment Centers Butterfield, Inc Division 1 Dollars % Dollars % $ 470,000 100.00% $ 350,000 100% 246,000 52.34 210,000 6 0 $ 224,000 47.66% $ 140,000 40% 131,100 27.89 7 3,500 21 $ 92,900 19.77% $ 66,500 19% 40,000 8.51 $ 52,900 11.26% Division 2...
Income Statements Segmented by Territory Script, Inc., has two product lines. The September income statements of...
Income Statements Segmented by Territory Script, Inc., has two product lines. The September income statements of each product line and the company are as follows: SCRIPT, INC. Product Line and Company Income Statements For Month of September Pens Pencils Total Sales $25,000 $30,000 $55,000 Less variable expenses (10,000) (12,000) (22,000) Contribution margin 15,000 18,000 33,000 Less direct fixed expenses (8,000) (6,000) (14,000) Product margin $7,000 $12,000 $19,000 Less common fixed expenses (6,000) Net income $13,000 Pens and pencils are sold...
30. During its most recent fiscal year. Dover, Inc. had total sales of $3,200.000. Contribution QUL...
30. During its most recent fiscal year. Dover, Inc. had total sales of $3,200.000. Contribution QUL margin amounted to $1,500,000 and pretax income was $400,000. What amount should have been reported as fixed costs in the company's contribution margin income statement for the year in question? During its most recent fiscal year, Dover, Inc. had total sales of $3,200,000. Contribution 002 margin amounted to $1,500,000 and pretax income was $400.000. What amount should have been reported as fixed costs in...
Extreme Sporting Goods is a retailer of sporting equipment. Last year, Extreme Sporting Goods' sales revenues...
Extreme Sporting Goods is a retailer of sporting equipment. Last year, Extreme Sporting Goods' sales revenues totalled $6,500,000. Total expenses were $1,730,000. Of this amount, approximately $1,025,000 were variable, while the remainder were fixed. Since Extreme Sporting Goods offers thousands of different products, its managers prefer to calculate the break-even point in terms of sales dollars rather than units. Assume that Extreme Sporting Goods gathers information on the sales of its products based on two departments: Winter Sports and Summer...
Shown as follows is a segmented income statement for Drexel-Hall during the current month. 60 Sales...
Shown as follows is a segmented income statement for Drexel-Hall during the current month. 60 Sales Variable costs Contribution margin Traceable fixed costs: controllable Performance margin Traceable fixed costs: committed Store responsibility margin Common fixed costs Income from operations Drexel-Hall Dollars $1,800,000 100% 1,080,000 $ 720,000 40% 432,000 24 $ 288,000 16% 180,000 10 $ 108,000 6% 36,000 $ 72,000 4% Store 1 Dollars $600,000 372,000 $228,000 120,000 $108,000 48,000 $ 60,000 100% 62 38% 20 18% 8 Profit Centers...
Fashionisto Inc. is an upscale clothing store in New York City and London. Each store has...
Fashionisto Inc. is an upscale clothing store in New York City and London. Each store has two main departments, Men’s Apparel and Women’s Apparel. Marie Phelps, Fashionisto’s CFO, wants to use strategic performance measurement to better understand the company’s financial results. She has decided to use the profit center method to measure performance and has gathered the following information about the two stores and the two departments of the New York City store: Total net sales $ 4,100,000 Fixed costs...
Operating Leverage Income statements for two different companies in the same industry are as follows: Trimax, Inc....
Operating Leverage Income statements for two different companies in the same industry are as follows: Trimax, Inc. Quintex, Inc. Sales $500,000 $625,000 Less: Variable costs 250,000 125,000 Contribution margin $250,000 $500,000 Less: Fixed costs 200,000 450,000 Operating income $50,000 $50,000 Required: 1. Compute the degree of operating leverage for each company. Trimax Quintex 2. Compute the break-even point in dollars for each company. Trimax, Inc. $ Quintex, Inc. $ Why is the break-even point for Quintex, Inc., higher? 3. Suppose...
Compute break-even point in dollars , contribution margin ratio, target net income sales CUBS Inc....
Compute break-even point in dollars , contribution margin ratio, target net income sales CUBS Inc. produces widgets. The widgets are sold for $10.00 per unit to wholesalers. Unit variable cost are 70% of Sales. For the year 2019, management estimates the following revenues and costs. Sales $7,500,000 Bonuses 325,000 Manufacturing overhead -fixed 1,160,000 Rent 250,000 Selling expenses - fixed 300,000 Meals & Entertainment 175,000 SGA expenses - fixed 700,000 Travel Expenses 150,000 Instructions: (a) Compute the contribution margin ratio. ...
Question 1 Poloskie Manufacturing Inc. has provided you with the following CVP income statement. $973,000 Sales...
Question 1 Poloskie Manufacturing Inc. has provided you with the following CVP income statement. $973,000 Sales (1,390 units) Variable costs: Cost of goods sold Selling expenses Administrative expenses Contribution margin Fixed costs: Cost of goods sold Selling expenses Administrative expenses Operating income 435,070 77,840 61,160 398,930 147,340 51,430 29,190 $170,970 Calculate the contribution margin ratio. (Round answer to 2 decimal places, eg, 15.25%.) Contribution margin ratio LINK TO TEXT Calculate the break-even point in sales dollars and number of units....
Fashionisto Inc. is an upscale clothing store in New York City and London. Each store has...
Fashionisto Inc. is an upscale clothing store in New York City and London. Each store has two main departments, Men’s Apparel and Women’s Apparel. Marie Phelps, Fashionisto’s CFO, wants to use strategic performance measurement to better understand the company’s financial results. She has decided to use the profit center method to measure performance and has gathered the following information about the two stores and the two departments of the New York City store: Total net sales $ 4,200,000 Fixed costs...
Shown as follows are responsibility income statements for Butterfield, Inc., for the month of March. Sales Variable costs Contribution margin Fixed costs traceable to divisions Division responsibility margin Common fixed costs Income from operations 30 Investment Centers Butterfield, Inc Division 1 Dollars % Dollars % $ 470,000 100.00% $ 350,000 100% 246,000 52.34 210,000 6 0 $ 224,000 47.66% $ 140,000 40% 131,100 27.89 7 3,500 21 $ 92,900 19.77% $ 66,500 19% 40,000 8.51 $ 52,900 11.26% Division 2...
Income Statements Segmented by Territory Script, Inc., has two product lines. The September income statements of each product line and the company are as follows: SCRIPT, INC. Product Line and Company Income Statements For Month of September Pens Pencils Total Sales $25,000 $30,000 $55,000 Less variable expenses (10,000) (12,000) (22,000) Contribution margin 15,000 18,000 33,000 Less direct fixed expenses (8,000) (6,000) (14,000) Product margin $7,000 $12,000 $19,000 Less common fixed expenses (6,000) Net income $13,000 Pens and pencils are sold...
30. During its most recent fiscal year. Dover, Inc. had total sales of $3,200.000. Contribution QUL margin amounted to $1,500,000 and pretax income was $400,000. What amount should have been reported as fixed costs in the company's contribution margin income statement for the year in question? During its most recent fiscal year, Dover, Inc. had total sales of $3,200,000. Contribution 002 margin amounted to $1,500,000 and pretax income was $400.000. What amount should have been reported as fixed costs in...
Extreme Sporting Goods is a retailer of sporting equipment. Last year, Extreme Sporting Goods' sales revenues totalled $6,500,000. Total expenses were $1,730,000. Of this amount, approximately $1,025,000 were variable, while the remainder were fixed. Since Extreme Sporting Goods offers thousands of different products, its managers prefer to calculate the break-even point in terms of sales dollars rather than units. Assume that Extreme Sporting Goods gathers information on the sales of its products based on two departments: Winter Sports and Summer...
Shown as follows is a segmented income statement for Drexel-Hall during the current month. 60 Sales Variable costs Contribution margin Traceable fixed costs: controllable Performance margin Traceable fixed costs: committed Store responsibility margin Common fixed costs Income from operations Drexel-Hall Dollars $1,800,000 100% 1,080,000 $ 720,000 40% 432,000 24 $ 288,000 16% 180,000 10 $ 108,000 6% 36,000 $ 72,000 4% Store 1 Dollars $600,000 372,000 $228,000 120,000 $108,000 48,000 $ 60,000 100% 62 38% 20 18% 8 Profit Centers...
Question 1 Poloskie Manufacturing Inc. has provided you with the following CVP income statement. $973,000 Sales (1,390 units) Variable costs: Cost of goods sold Selling expenses Administrative expenses Contribution margin Fixed costs: Cost of goods sold Selling expenses Administrative expenses Operating income 435,070 77,840 61,160 398,930 147,340 51,430 29,190 $170,970 Calculate the contribution margin ratio. (Round answer to 2 decimal places, eg, 15.25%.) Contribution margin ratio LINK TO TEXT Calculate the break-even point in sales dollars and number of units....
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