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Marwick's Pianos Inc | ||
Traditional Income Statement | ||
For the Month of August | ||
Sales revenue | $ 179,200.00 | |
Less: Cost of Goods sold | $ 94,720.00 | |
Gross Profit | $ 84,480.00 | |
Selling and Administrative Expense | ||
Selling Expenses | ||
Advertising | $ 952.00 | |
Sales salaries and Commission | $ 13,753.00 | |
Delivery Expense | $ 4,032.00 | |
Utilities | $ 664.00 | |
Depreciation of sales facility | $ 4,937.00 | |
Total Selling Expenses | $ 24,338.00 | |
Administrative Expenses | ||
Executive Salaries | $ 13,594.00 | |
Insurance | $ 701.00 | |
Clerical | $ 5,303.00 | |
Depreciation- Office Equipment | $ 937.00 | |
Total Administrative expenses | $ 20,535.00 | |
Total Selling and Administrative Expense | $ 44,873.00 | |
Net income | $ 39,607.00 |
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Marwick's Pianos Inc | ||
Contribution formal Income statement | ||
For the Month of August | ||
Total | Per Piano | |
Sales | $ 179,200.00 | $ 2,800.00 |
variable Expenses | ||
Direct material cost | $ 94,720.00 | $ 1,480.00 |
Variable Sales salaries and Commission | $ 8,960.00 | $ 140.00 |
Delivery Expenses | $ 4,032.00 | $ 63.00 |
Clerical | $ 2,816.00 | $ 44.00 |
Total Variable Cost | $ 110,528.00 | $ 1,727.00 |
Contribution Margin | $ 68,672.00 | $ 1,073.00 |
Fixed costs | ||
Advertising | $ 952.00 | |
Fixed Sales salaries and Commission | $ 4,793.00 | |
Utilities | $ 664.00 | |
Depreciation- Sales Facility | $ 4,937.00 | |
Executive salaries | $ 13,594.00 | |
Insurance | $ 701.00 | |
Clerical fixed cost | $ 2,487.00 | |
Depreciation- Office equipment | $ 937.00 | |
Total Fixed cost | $ 29,065.00 | |
Net Income | $ 39,607.00 |
Please help! I always to thumbs up, thanks! Marwick's Pianos, Inc., purchases pianos from a large...
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 $1,504 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, Inc., 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 Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $964 per month $4,786 per month, plus 4%...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,502 per unit and then sells them to retail customers for an average price of $3,000 each. The company's selling and administrative costs for a typical month are presented below: Dints Cost Formula eBook 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 $953 per month $4,794 per month,...
Marwick’s Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level. The pianos cost, on the average, $1,484 each from the manufacturer. Marwick’s Pianos, Inc., sells the pianos to its customers at an average price of $2,600 each. The selling and administrative costs that the company incurs in a typical month are presented below: Marwick's Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level. The pianos cost, on...
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 $1,500 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%...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,507 per unit and then sells them to retail customers for an average price of $3,500 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 $943 per month $ 4,802 per month, plus...
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...