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9:07 ..1 LTED Done v2.cengagenow.com AA e Variable Cost, Fixed Cost, Contribution Margin Income Statement...
3. Prepare a contribution margin income statement based on the budgeted figures for next year. In...
3. Prepare a contribution margin income statement based on the budgeted figures for next year. In a column next to the income statement, show the percentages based on sales for sales, total variable cost, and total contribution margin. Refer to the list of Amount Descriptions for the exact wording of text items within your income statement. Head-First Company Contribution Margin Income Statement For the Coming Year Percent of Sales Refer to the list below for the exact wording of text...
Break-Even Point in Units Chillmax Company plans to sell 3,500 pairs of shoes at $60 each...
Break-Even Point in Units
Chillmax Company plans to sell 3,500 pairs of shoes at $60
each in the coming year. Variable cost is 35% of the sales price;
contribution margin is 65% of the sales price. Total fixed cost
equals $78,000 (includes fixed factory overhead and fixed selling
and administrative expense).
Required:
1. Calculate the sales revenue that Chillmax must make to
break even by using the break-even point in sales equation. $
2. Prepare a contribution margin income statement...
Variable Costs, Contribution Margin, Contribution Margin Ratio Super-Tees Company plans to sell 10,000 T-shirts at $18...
Variable Costs, Contribution Margin, Contribution Margin Ratio Super-Tees Company plans to sell 10,000 T-shirts at $18 each in the coming year. Product costs include: Direct materials per T-shirt $6.30 Direct labor per T-shirt $1.26 Variable overhead per T-shirt $0.54 Total fixed factory overhead $38,000 Variable selling expense is the redemption of a coupon, which averages $0.90 per T-shirt; fixed selling and administrative expenses total $11,000. Required: 1. Calculate the following values: Round dollar amounts to the nearest cent and round...
Variable Costs, Contribution Margin, Contribution Margin Ratio Super-Tees Company plans to sell 12,000 T-shirts at $16...
Variable Costs, Contribution Margin, Contribution Margin Ratio Super-Tees Company plans to sell 12,000 T-shirts at $16 each in the coming year. Product costs include: Direct materials per T-shirt $5.75 Direct labor per T-shirt $1.25 Variable overhead per T-shirt $0.60 Total fixed factory overhead $43,000 Variable selling expense is the redemption of a coupon, which averages $0.80 per T-shirt; fixed selling and administrative expenses total $19,000. Required: 1. Calculate the: a. Variable product cost per unit b. Total variable cost per...
Variable Costs, Contribution Margin, Contribution Margin Ratio Super-Tees Company plans to sell 14,000 T-shirts at $18...
Variable Costs, Contribution Margin, Contribution Margin Ratio Super-Tees Company plans to sell 14,000 T-shirts at $18 each in the coming year. Product costs include: $6.30 $1.26 Direct materials per T-shirt Direct labor per T-shirt Variable overhead per T-shirt Total fixed factory overhead $0.54 $43,000 Variable selling expense is the redemption of a coupon, which averages $0.90 per T-shirt; fixed selling and administrative expenses total $18,000. Required: 1. Calculate the following values: Round dollar amounts to the nearest cent and round...
Price, Variable Cost per Unit, Contribution Margin, Contribution Margin Ratio, Fixed Expense For each of the...
Price, Variable Cost per Unit, Contribution Margin, Contribution Margin Ratio, Fixed Expense For each of the following independent situations, calculate the amount(s) required. Required: 1. At the break-even point, Jefferson Company sells 135,000 units and has fixed cost of $353,000. The variable cost per unit is $0.45. What price does Jefferson charge per unit? Note: Round to the nearest cent. 2. Sooner Industries charges a price of $111 and has fixed cost of $414,000. Next year, Sooner expects to sell...
Santa Clara Computer Components, Inc. Santa Clara Computer Components, Inc. Income Statement Contribution Margin Income Statement...
Santa Clara Computer Components, Inc. Santa Clara Computer Components, Inc. Income Statement Contribution Margin Income Statement Per Unit Sales Sales Variable product Variable selling expense Variable administrative expense 6 Cost of goods sold: 7 Beginning merchandise inventory 8 Add: Purchases 9 Goods available for sale 10 Ending merchandise inventory 11 Cost of goods sold: Total variable expenses 12 Gross margin Contribution margin Selling and administrative expenses: 14 Selling expenses Fixed Selling expenses 15 Administrative expenses Fixed Administrative expenses 16 Net...
Break-Even Point in Units for a Multiple-Product Firm Suppose that Chillmax Company now sells both pairs...
Break-Even Point in Units for a Multiple-Product Firm Suppose that Chillmax Company now sells both pairs of shoes and fabric carryalls. The pairs of shoes are priced at $60 and have variable costs of $21 each. The carryalls are priced at $36 and have variable costs of $9 each. Total fixed cost for Chillmax as a whole equals $91,500 (includes all fixed factory overhead and fixed selling and administrative expense). Next year, Chillmax expects to sell 3,500 pairs of shoes...
the drop down list has contribution margin contribution margin income statement contribution margin ratio fixed cost...
the
drop down list has
contribution margin
contribution margin income statement
contribution margin ratio
fixed cost
full absorption costing
linearity assumption
mixed cost
relevent range
scattergraph
step variable cost
unit contribution margin
variable cost
variable costing
none of these is correct
some terms may repeat
Check my work Match each definition with its related term by selecting the appropriate term in the dropdown provided. (Select "None of these are correct" if there is no term for the "Definition".) 0.3 points...
Contribution margin Contribution margin income statement Contribution margin ratio Fixed cost Full absorption costing Linearity assumption...
Contribution margin Contribution margin income statement Contribution margin ratio Fixed cost Full absorption costing Linearity assumption Mixed cost Relevant range Scattergraph Step-variable cost Unit contribution margin Variable cost Variable costing None of these are correct Match each definition with its related term by selecting the appropriate term in the dropdown provided. (Select "None of these are correct" if there is no term for the "Definition".) Term Definition A. The way in which total cost behaves or changes, when some measure...
3. Prepare a contribution margin income statement based on the budgeted figures for next year. In a column next to the income statement, show the percentages based on sales for sales, total variable cost, and total contribution margin. Refer to the list of Amount Descriptions for the exact wording of text items within your income statement. Head-First Company Contribution Margin Income Statement For the Coming Year Percent of Sales Refer to the list below for the exact wording of text...
Break-Even Point in Units
Chillmax Company plans to sell 3,500 pairs of shoes at $60
each in the coming year. Variable cost is 35% of the sales price;
contribution margin is 65% of the sales price. Total fixed cost
equals $78,000 (includes fixed factory overhead and fixed selling
and administrative expense).
Required:
1. Calculate the sales revenue that Chillmax must make to
break even by using the break-even point in sales equation. $
2. Prepare a contribution margin income statement...
Variable Costs, Contribution Margin, Contribution Margin Ratio Super-Tees Company plans to sell 14,000 T-shirts at $18 each in the coming year. Product costs include: $6.30 $1.26 Direct materials per T-shirt Direct labor per T-shirt Variable overhead per T-shirt Total fixed factory overhead $0.54 $43,000 Variable selling expense is the redemption of a coupon, which averages $0.90 per T-shirt; fixed selling and administrative expenses total $18,000. Required: 1. Calculate the following values: Round dollar amounts to the nearest cent and round...
Price, Variable Cost per Unit, Contribution Margin, Contribution Margin Ratio, Fixed Expense For each of the following independent situations, calculate the amount(s) required. Required: 1. At the break-even point, Jefferson Company sells 135,000 units and has fixed cost of $353,000. The variable cost per unit is $0.45. What price does Jefferson charge per unit? Note: Round to the nearest cent. 2. Sooner Industries charges a price of $111 and has fixed cost of $414,000. Next year, Sooner expects to sell...
Santa Clara Computer Components, Inc. Santa Clara Computer Components, Inc. Income Statement Contribution Margin Income Statement Per Unit Sales Sales Variable product Variable selling expense Variable administrative expense 6 Cost of goods sold: 7 Beginning merchandise inventory 8 Add: Purchases 9 Goods available for sale 10 Ending merchandise inventory 11 Cost of goods sold: Total variable expenses 12 Gross margin Contribution margin Selling and administrative expenses: 14 Selling expenses Fixed Selling expenses 15 Administrative expenses Fixed Administrative expenses 16 Net...
Break-Even Point in Units for a Multiple-Product Firm Suppose that Chillmax Company now sells both pairs of shoes and fabric carryalls. The pairs of shoes are priced at $60 and have variable costs of $21 each. The carryalls are priced at $36 and have variable costs of $9 each. Total fixed cost for Chillmax as a whole equals $91,500 (includes all fixed factory overhead and fixed selling and administrative expense). Next year, Chillmax expects to sell 3,500 pairs of shoes...
the
drop down list has
contribution margin
contribution margin income statement
contribution margin ratio
fixed cost
full absorption costing
linearity assumption
mixed cost
relevent range
scattergraph
step variable cost
unit contribution margin
variable cost
variable costing
none of these is correct
some terms may repeat
Check my work Match each definition with its related term by selecting the appropriate term in the dropdown provided. (Select "None of these are correct" if there is no term for the "Definition".) 0.3 points...
Contribution margin Contribution margin income statement Contribution margin ratio Fixed cost Full absorption costing Linearity assumption Mixed cost Relevant range Scattergraph Step-variable cost Unit contribution margin Variable cost Variable costing None of these are correct Match each definition with its related term by selecting the appropriate term in the dropdown provided. (Select "None of these are correct" if there is no term for the "Definition".) Term Definition A. The way in which total cost behaves or changes, when some measure...
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