Homework Answers
| Per Unit | |||
| Sales | $94,000 | $100 | |
| Less: Variable expenses: | |||
| Cost of goods sold | $58,280 | $62 | |
| Commissions expense | $6,580 | $7 | |
| Shipping expense | $940 | $1 | |
| Total variable expenses | $65,800 | $70 | |
| Contribution Margin | $28,200 | $30 | |
| Less: Fixed expenses: | |||
| Salaries expense | $7,800 | ||
| Advertising expense | $5,900 | ||
| Total fixed expenses | $13,700 | ||
| Operating Income | $14,500 | ||
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Question 2 View Policies Current Attempt in Progress Restate the following income statement for a retailer...
View Policies -15 Current Attempt in Progress Restate the following income statement for a retailer in...
View Policies -15 Current Attempt in Progress Restate the following income statement for a retailer in contribution format. $ 50,000 31,000 19.000 Sales revenue ($100 per unit) Less cost of goods sold ($62 per unit) Gross margin Less operating costs: Commissions expense ($5 per unit) $ 2,500 Salaries expense 7.900 Advertising expense 5,900 Shipping expense ($1 per unit) 500 Operating income 16,800 2,200 $ Per Unit $ $ $ o arch delete Question 3 of 5 -15 III Per Unit...
Current Attempt in Progress - Your answer is partially correct. Restate the following income statement for...
Current Attempt in Progress - Your answer is partially correct. Restate the following income statement for a retailer in contribution format. $ 98,000 56,840 41,160 Sales revenue ($100 per unit) Less cost of goods sold ($58 per unit) Gross margin Less operating costs: Commissions expense ($5 per unit) $4,900 Salaries expense 7,900 Advertising expense Shipping expense ($3 per unit) 2,9% Operating income 5,800 21,540 $ 19,620 Per Unit 98.000 Sales Revenue Variable Expenses 56820 Cost of Goods Sold Per Unit...
Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit)...
Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ 64,000 Less cost of goods sold ($62 per unit) 39,680 Gross margin 24,320 Less operating costs: Commissions expense ($7 per unit) $ 4,480 Salaries expense 7,900 Advertising expense 6,000 Shipping expense ($2 per unit) 1,280 19,660 Operating income $ 4,660 Per Unit select an income statement item $enter a dollar amount $enter a dollar amount Select an opening name for section one: Select...
Prepare a Condensed Income Statement View Policies Current Attempt in Progress The following are selected ledger...
Prepare a Condensed Income Statement
View Policies Current Attempt in Progress The following are selected ledger accounts of Blue Corporation at December 31, 2020. Cash Inventory Sales revenue Unearned sales revenue Purchases Sales discounts Purchase discounts Selling expenses Accounting and legal services Insurance expense (office) Advertising expense Delivery expense Depreciation expense (office equipment) Depreciation expense (sales equipment) $244,200 706,200 5,643,000 154,440 3,677,520 44,880 35,640 91,080 43,560 31,680 71,280 122,760 63,360 47,520 Salaries and wages expense (sales) Salaries and wages expense...
Question 3 of 5 < > -/10 View Policies Current Attempt in Progress Two accountants for...
Question 3 of 5 < > -/10 View Policies Current Attempt in Progress Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2020 information related to Whispering Company (S000 omitted). $5,076 4.136 60.746 17.406 Administrative expense Officers' salaries Depreciation of office furniture and equipment Cost of goods sold Rent revenue Selling expense Delivery expense Sales commissions Depreciation of...
Question 2 View Policies Current Attempt in Progress In its income statement for the year ended...
Question 2 View Policies Current Attempt in Progress In its income statement for the year ended December 31, 2019, Sunland Company reported thef Operating expenses Interest revenue $32,380 $768,410 1,338,000 Loss on disposal of plant assets Cost of goods sold Interest expense 72,070 Net sales 18,030 2.422,500 6,550 other comprehensive income Prepare a multiple-step Income statement. (List other revenues before other expenses Sunland Company Income Statement For the Year Ended December 31, 2019 $ eTextbook and Media List of Accounts...
Restate the following income statement for a merchandising company in contribution format. $23,040 20,160 2,880 Sales...
Restate the following income statement for a merchandising company in contribution format. $23,040 20,160 2,880 Sales ($32 per unit) Less cost of goods sold ($28 per unit) Gross margin Less operating expenses Commissions ($1.00 per unit) Salaries Operating income $720 1,020 1,740 $1,140 Sales $ 23040 Less : Variable Cost Contribution Margin V Less Fixed Cost Salaries Operating Income $
Need help finding Total Variable Expense and Contribution Margin. Please explain how to find, Thank you!...
Need help finding Total Variable Expense and
Contribution Margin. Please explain how to find, Thank
you!
Restate the following income statement for a retailer in contribution format. $ 93,000 53,940 39,060 Sales revenue ($100 per unit) Less cost of goods sold ($58 per unit) Gross margin Less operating costs: Commissions expense ($7 per unit) $ 6,510 Salaries expense 7,900 Advertising expense 6,000 Shipping expense ($3 per unit) 2,790 Operating income 23,200 $ 15,860 Sales Revenue 93000 100 Variable Expenses Cost...
(Prev 1 Nee) Questions Question 1 View Policies Current Attempt in Progress At Bargain Electronics, it...
(Prev 1 Nee) Questions Question 1 View Policies Current Attempt in Progress At Bargain Electronics, it costs $30 per unit ($16 variable and $14fed to make an MP3 player that normally sells for $49. A foreign wholesaler offers to buy 4570 units at $25 each Bargain Electronics will incrocial shipping costs of $1 per unit. Assuming that Bargain Electronics has excess operating Capacity indicate the income Bargain Electronics would by accepting the special de E t ive amounts ther e...
Question 5 View Policies Show Attempt History Current Attempt in Progress In its income statement for...
Question 5 View Policies Show Attempt History Current Attempt in Progress In its income statement for the year ended December 31, 2022, Marigold Corp.reported the following condensed data, Operating expenses $ 713,000 Interest revenue $ 25,000 Cost of goods sold 1,248,000 Loss on disposal of plant assets 9,000 Interest expense 62,000 Net sales 2,192,000 Income tax expense 36,000 Other comprehensive income (net of $1,200 tax) 7,500 Your answer is partially correct. Prepare a multiple-step income statement. Marigold Corp. Income Statement...
View Policies -15 Current Attempt in Progress Restate the following income statement for a retailer in contribution format. $ 50,000 31,000 19.000 Sales revenue ($100 per unit) Less cost of goods sold ($62 per unit) Gross margin Less operating costs: Commissions expense ($5 per unit) $ 2,500 Salaries expense 7.900 Advertising expense 5,900 Shipping expense ($1 per unit) 500 Operating income 16,800 2,200 $ Per Unit $ $ $ o arch delete Question 3 of 5 -15 III Per Unit...
Current Attempt in Progress - Your answer is partially correct. Restate the following income statement for a retailer in contribution format. $ 98,000 56,840 41,160 Sales revenue ($100 per unit) Less cost of goods sold ($58 per unit) Gross margin Less operating costs: Commissions expense ($5 per unit) $4,900 Salaries expense 7,900 Advertising expense Shipping expense ($3 per unit) 2,9% Operating income 5,800 21,540 $ 19,620 Per Unit 98.000 Sales Revenue Variable Expenses 56820 Cost of Goods Sold Per Unit...
Prepare a Condensed Income Statement
View Policies Current Attempt in Progress The following are selected ledger accounts of Blue Corporation at December 31, 2020. Cash Inventory Sales revenue Unearned sales revenue Purchases Sales discounts Purchase discounts Selling expenses Accounting and legal services Insurance expense (office) Advertising expense Delivery expense Depreciation expense (office equipment) Depreciation expense (sales equipment) $244,200 706,200 5,643,000 154,440 3,677,520 44,880 35,640 91,080 43,560 31,680 71,280 122,760 63,360 47,520 Salaries and wages expense (sales) Salaries and wages expense...
Question 3 of 5 < > -/10 View Policies Current Attempt in Progress Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2020 information related to Whispering Company (S000 omitted). $5,076 4.136 60.746 17.406 Administrative expense Officers' salaries Depreciation of office furniture and equipment Cost of goods sold Rent revenue Selling expense Delivery expense Sales commissions Depreciation of...
Question 2 View Policies Current Attempt in Progress In its income statement for the year ended December 31, 2019, Sunland Company reported thef Operating expenses Interest revenue $32,380 $768,410 1,338,000 Loss on disposal of plant assets Cost of goods sold Interest expense 72,070 Net sales 18,030 2.422,500 6,550 other comprehensive income Prepare a multiple-step Income statement. (List other revenues before other expenses Sunland Company Income Statement For the Year Ended December 31, 2019 $ eTextbook and Media List of Accounts...
Restate the following income statement for a merchandising company in contribution format. $23,040 20,160 2,880 Sales ($32 per unit) Less cost of goods sold ($28 per unit) Gross margin Less operating expenses Commissions ($1.00 per unit) Salaries Operating income $720 1,020 1,740 $1,140 Sales $ 23040 Less : Variable Cost Contribution Margin V Less Fixed Cost Salaries Operating Income $
Need help finding Total Variable Expense and
Contribution Margin. Please explain how to find, Thank
you!
Restate the following income statement for a retailer in contribution format. $ 93,000 53,940 39,060 Sales revenue ($100 per unit) Less cost of goods sold ($58 per unit) Gross margin Less operating costs: Commissions expense ($7 per unit) $ 6,510 Salaries expense 7,900 Advertising expense 6,000 Shipping expense ($3 per unit) 2,790 Operating income 23,200 $ 15,860 Sales Revenue 93000 100 Variable Expenses Cost...
(Prev 1 Nee) Questions Question 1 View Policies Current Attempt in Progress At Bargain Electronics, it costs $30 per unit ($16 variable and $14fed to make an MP3 player that normally sells for $49. A foreign wholesaler offers to buy 4570 units at $25 each Bargain Electronics will incrocial shipping costs of $1 per unit. Assuming that Bargain Electronics has excess operating Capacity indicate the income Bargain Electronics would by accepting the special de E t ive amounts ther e...
Question 5 View Policies Show Attempt History Current Attempt in Progress In its income statement for the year ended December 31, 2022, Marigold Corp.reported the following condensed data, Operating expenses $ 713,000 Interest revenue $ 25,000 Cost of goods sold 1,248,000 Loss on disposal of plant assets 9,000 Interest expense 62,000 Net sales 2,192,000 Income tax expense 36,000 Other comprehensive income (net of $1,200 tax) 7,500 Your answer is partially correct. Prepare a multiple-step income statement. Marigold Corp. Income Statement...
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