Homework Answers
Contribution = Sales - variable cost
Contribution margin per unit = Contribution/No.of units
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Exercise 2-17 (Part Level Submission) Mary Smith sells gourmet chocolate chip cookies. The results of her...
Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are...
Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue Cost of goods sold (all variable) Gross margin selling expenses (20% variable) Administrative expenses (60% variable) 12,800 Operating income s 56,632 28,967 27,665 8,905 $5,960 If Mary sells her cookies for $1.92 each, how many cookies did she sell during the month? (Round answer to the nearest whole number, e.g. 5,275.) Cookies sold in the month
Your answer is correct. What is the contribution margin per cookie? (Round unit costs to 2...
Your answer is correct. What is the contribution margin per cookie? (Round unit costs to 2 decimal places, e.g. 12.25.) Contribution margin 0.62] per cookie LINK TO TEXT Attempts: 3 of 15 used ▼ (d) what is Mary's contribution margin ratio? (Round contribution margin ratio to 2 decimal places, eg. 30.25%.) Contribution margin ratio ary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: ales revenue ost of goods sold (all variable)...
Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are...
Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue Cost of goods sold (all variable) Gross margin Selling expenses (20% variable) Administrative expenses (60% variable) Operating income $60,500 26,500 34,000 9,300 $13,700 What is Mary's degree of operating leverage? (Round answer to 2 decimal places, e.g. 52.75.) Operating leverage If Mary can increase sales by 10%, by how much will her operating income increase? (Round answer to o decimal...
Exercise 2-17 (Part Level Submission) Erin Brushwood sells gourmet chocolate chip cookies. The results of her...
Exercise 2-17 (Part Level Submission) Erin Brushwood sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue $ 49,742 Cost of goods sold (all variable) 25,443 Gross margin 24,299 Selling expenses (20% variable) 8,239 Administrative expenses (60% variable) 11,152 Operating income $ 4,908 Collapse question part (a) Partially correct answer. Your answer is partially correct. Prepare a contribution format income statement for Erin. (Round answers to 0 decimal places, e.g. 5,275.) Entry...
Question 1 Mary Smith sells gourmet chocolate chip cookies. The results of her last month of...
Question 1 Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue Cost of goods sold (all variable) Gross margin Selling expenses (20% variable) Administrative expenses (60% variable) Operating income $48,500 27,500 21,000 7,200 12,000 $1,800 (a) (b) x Your answer is incorrect. Try again. If Mary can increase sales by 10%, by how much will her operating income increase? (Round answer to 0 decimal places, e.g. 5,275.) 686 Increase...
Sales revenue Cost of goods sold (all variable) Gross margin Selling expenses (20% variable) Administrative expenses...
Sales revenue Cost of goods sold (all variable) Gross margin Selling expenses (20% variable) Administrative expenses (60% variable) Operating income $ 56,632 28,967 27,665 8,905 12,800 $ 5,960 v (a Prepare a contribution format income statement for Mary, (Round answers to o decimal places, e.g. 5,250.)
Aunt Molly's Old Fashioned Cookies bakes cookies for retail stores. The company's best-selling cookie is chocolate nut supreme, which is marketed as a gourmet cookie and regularly sells for $...
Aunt Molly's Old Fashioned Cookies bakes cookies for retail stores. The company's best-selling cookie is chocolate nut supreme, which is marketed as a gourmet cookie and regularly sells for $8.00 per pound. The standard cost per pound of chocolate nut supreme, based on Aunt Molly's normal monthly production of 400,000 pounds, is as follows Total Cost Quantity Standard Unit Cost Cost Item Direct materials: Cookie mix Milk chocolate Almonds 10 oz. 5 oz. 1 oz $ 0.02 per oz 0.15...
Exercise 19-17 (Part Level Submission) Siren Company builds custom fishing lures for sporting goods stores. In its firs...
Exercise 19-17 (Part Level Submission) Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $7.88 $3.62 $6.09 $4.10 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $241,960 $220,605 Siren Company sells the fishing lures for $26.25. During 2017, the company sold 80,000 lures and produced 92,000...
Marwick’s Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level....
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...
Return to Blackboard PLUS DITI Davis, Managerial Accounting, Je Help System Announcements SOURCES CALCULATOR Exercise 3-16...
Return to Blackboard PLUS DITI Davis, Managerial Accounting, Je Help System Announcements SOURCES CALCULATOR Exercise 3-16 Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue $46,500 Cost of goods sold (all variable) 26,500 Gross margin 20,000 Selling expenses (20% variable) 7,700 Administrative expenses (60% variable) 11,000 Operating income $1,300 Study What is Mary's degree of operating leverage? (Round answer to 2 decimal places, e.g. 52.75.) Operating leverage If Mary...
Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue Cost of goods sold (all variable) Gross margin selling expenses (20% variable) Administrative expenses (60% variable) 12,800 Operating income s 56,632 28,967 27,665 8,905 $5,960 If Mary sells her cookies for $1.92 each, how many cookies did she sell during the month? (Round answer to the nearest whole number, e.g. 5,275.) Cookies sold in the month
Your answer is correct. What is the contribution margin per cookie? (Round unit costs to 2 decimal places, e.g. 12.25.) Contribution margin 0.62] per cookie LINK TO TEXT Attempts: 3 of 15 used ▼ (d) what is Mary's contribution margin ratio? (Round contribution margin ratio to 2 decimal places, eg. 30.25%.) Contribution margin ratio ary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: ales revenue ost of goods sold (all variable)...
Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue Cost of goods sold (all variable) Gross margin Selling expenses (20% variable) Administrative expenses (60% variable) Operating income $60,500 26,500 34,000 9,300 $13,700 What is Mary's degree of operating leverage? (Round answer to 2 decimal places, e.g. 52.75.) Operating leverage If Mary can increase sales by 10%, by how much will her operating income increase? (Round answer to o decimal...
Question 1 Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue Cost of goods sold (all variable) Gross margin Selling expenses (20% variable) Administrative expenses (60% variable) Operating income $48,500 27,500 21,000 7,200 12,000 $1,800 (a) (b) x Your answer is incorrect. Try again. If Mary can increase sales by 10%, by how much will her operating income increase? (Round answer to 0 decimal places, e.g. 5,275.) 686 Increase...
Sales revenue Cost of goods sold (all variable) Gross margin Selling expenses (20% variable) Administrative expenses (60% variable) Operating income $ 56,632 28,967 27,665 8,905 12,800 $ 5,960 v (a Prepare a contribution format income statement for Mary, (Round answers to o decimal places, e.g. 5,250.)
Aunt Molly's Old Fashioned Cookies bakes cookies for retail stores. The company's best-selling cookie is chocolate nut supreme, which is marketed as a gourmet cookie and regularly sells for $8.00 per pound. The standard cost per pound of chocolate nut supreme, based on Aunt Molly's normal monthly production of 400,000 pounds, is as follows Total Cost Quantity Standard Unit Cost Cost Item Direct materials: Cookie mix Milk chocolate Almonds 10 oz. 5 oz. 1 oz $ 0.02 per oz 0.15...
Exercise 19-17 (Part Level Submission) Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $7.88 $3.62 $6.09 $4.10 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $241,960 $220,605 Siren Company sells the fishing lures for $26.25. During 2017, the company sold 80,000 lures and produced 92,000...
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...
Return to Blackboard PLUS DITI Davis, Managerial Accounting, Je Help System Announcements SOURCES CALCULATOR Exercise 3-16 Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue $46,500 Cost of goods sold (all variable) 26,500 Gross margin 20,000 Selling expenses (20% variable) 7,700 Administrative expenses (60% variable) 11,000 Operating income $1,300 Study What is Mary's degree of operating leverage? (Round answer to 2 decimal places, e.g. 52.75.) Operating leverage If Mary...
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