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Marwick's Pianos Inc | ||
Traditional Income Statement | ||
For the Month of August | ||
Sales revenue | $ 173,600.00 | |
Less: Cost of Goods sold | $ 94,240.00 | |
Gross Profit | $ 79,360.00 | |
Selling and Administrative Expenese | ||
Selling Expenses | ||
Advertising | $ 957.00 | |
Sales salaries and Commission | $ 13,453.00 | |
Delivery Expense | $ 3,782.00 | |
Utilities | $ 668.00 | |
Depreciation of sales facility | $ 5,036.00 | |
Total Selling Expenses | $ 23,896.00 | |
Administrative Expenses | ||
Executive Salaries | $ 13,512.00 | |
Insurance | $ 715.00 | |
Clerical | $ 5,144.00 | |
Depreciation- Office Equipment | $ 868.00 | |
Total Administrative expenses | $ 20,239.00 | |
Total Selling and Administrative Expenese | $ 44,135.00 | |
Net income | $ 35,225.00 |
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Marwick's Pianos Inc | ||
Contribution formal Income statement | ||
For the Month of August | ||
Total | Per Piano | |
Sales | $ 173,600.00 | $ 2,800.00 |
variable Expenses | ||
Direct material cost | $ 94,240.00 | $ 1,520.00 |
Variable Sales salaries and Commission | $ 8,680.00 | $ 140.00 |
Delivery Expenses | $ 3,782.00 | $ 61.00 |
Clerical | $ 2,666.00 | $ 43.00 |
Total Variable Cost | $ 109,368.00 | $ 1,764.00 |
Contribution Margin | $ 64,232.00 | $ 1,036.00 |
Fixed costs | ||
Advertising | $ 957.00 | |
Fixed Sales salaries and Commission | $ 4,773.00 | |
Utilities | $ 668.00 | |
Depreciation- Sales Facility | $ 5,036.00 | |
Executive salaries | $ 13,512.00 | |
Insurance | $ 715.00 | |
Clerical fixed cost | $ 2,478.00 | |
Depreciation- Office equipment | $ 868.00 | |
Total Fixed cost | $ 29,007.00 | |
Net Income | $ 35,225.00 |
Marwick's Pisnos, Inc., purchases pianos from a large manufacturer for an average cost of $1,520 per...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,520 per unit and then sells them to retail customers for an average price of $3,400 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $968 per month $4,793 per month, plus 5%...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,500 per unit and then sells them to retail customers for an average price of $2,000 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $966 per month $4,804 per month, plus 5%...
Need help! Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,509 per unit and then sells them to retail customers for an average price of $3,200 each. The company's selling and administrative costs for a typical month are presented below Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $946 per month 54,780 per month,...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,495 per unit and then sells them to retail customers for an average price of $2,500 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $939 per month $4,777 per month, plus 6%...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,496 per unit and then sells them to retail customers for an average price of $3,100 each. The company's selling and administrative costs for a typical month are presented below: Costs Selling: Cost Formula Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities $944 per month 4,818 per month, plus 4% of sales $62 per piano sold $658 per month...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,519 per unit and then sells them to retail customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance clerical Depreciation of office equipment $933 per month $ 4,810 per month, plus...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1.483 per unit and then sells them to retail customers for an average price of $2,600 esch. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries $953 per month $4,813 per month, plus 4% of sales $62 per piano sold...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,504 per unit and then sells them to retail customers for an average price of $2,100 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities $968 per month $4,811 per month, plus 4% of sales $59 per piano sold $666 per month...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,504 per unit and then sells them to retail customers for an average price of $2.400 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities $969 per month $4,795 per month, plus 5% of sales $57 per piano sold $640 per month...
Marwick's Pianos, Ic., purchases pianos from a large manufacturer for an average cost of $1,511 per unit and then sells them to retail customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising $967 per month $4,823 per month, plus 3% of sales $60 per piano sold $657 per month $5,017 per month Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation...