Homework Answers
Answer
- Workings
|
Total |
Variable Portion |
Fixed Portion |
|
|
Cost of Goods Sold |
$800,000 |
$600,000 |
$200,000 |
|
Selling Expense |
$280,000 |
$117,600 |
$162,400 |
|
Administrative expense |
$150,000 |
$60,000 |
$90,000 |
|
Total |
$1,230,000 |
$777,600 |
$452,400 |
|
Total |
Variable Portion |
Fixed Portion |
|
|
Cost of Goods Sold |
800000 |
=800000*75% |
=800000-600000 |
|
Selling Expense |
280000 |
=280000*42% |
=280000-117600 |
|
Administrative expense |
150000 |
=150000*40% |
=150000-60000 |
- Requirement A
|
A |
Sales |
$1,200,000 |
|
|
B |
Variable cost |
$777,600 |
|
|
C = A - B |
Contribution margin |
$422,400 |
|
|
D = (C/A) x 100 |
CM Ratio |
35% |
|
|
E |
Fixed Cost |
$452,400 |
|
|
F = E/D |
Break even point in total sales dollars |
$1,292,571 |
Answer |
|
G = F / $ 5 per unit sale price |
Break even point un units |
258,514 |
Answer |
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For the Year Ended December 31, 2020
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Cost of goods sold
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Gross profit
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Operating expenses
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)
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Cullumber and Paul Company
Income Statement
For the Year Ended December 31, 2020
Sales (270,000 units)
$1,350,000
Cost of goods sold
900,000
Gross profit
450,000
Operating expenses
Selling
$315,000
Administrative
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A cost behavior analysis indicates that 75% of the cost of goods
sold are variable, 42% of the selling expenses are variable, and
40% of the administrative expenses are variable.
Cullumber has proposed a plan to get the partnership “out of the
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