Homework Answers
Solution : Under Variable Costing :
Contribution Margin = Sales - Variable Costs
| Sales | xxx |
| Less : Variable Costs | xxx |
| Contribution Margin | xxx |
| Less : Fixed Costs | xxx |
| Net Income | xxx |
Therefore , Contribution Margin = Sales - Variable Costs
Answer : C. Sales - Variable Costs
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Under variable costing, contribution margin is equal to: Select one: A. Contribution Margin - Fixed Costs...
Which of the following correctly illustrates how to calculate contribution margin? Select one: o A. Sales...
Which of the following correctly illustrates how to calculate contribution margin? Select one: o A. Sales - Variable Costs - Operating Costs o B. Sales - Fixed Costs - Variable Costs C. Sales - Variable Costs D. Variable Costs / Sales E. None of the above
Net income under variable costing is contribution margin less: A. fixed manufacturing overhead and variable manufacturing...
Net income under variable costing is contribution margin less: A. fixed manufacturing overhead and variable manufacturing overhead. B. cost of goods sold. C. fixed manufacturing overhead and fixed selling and administrative expenses. D. variable selling and administrative expenses and fixed selling and administrative expenses
Sales (100,000 units) Variable costs Contribution margin Fixed manufacturing costs Operating income Interest Earnings before taxes...
Sales (100,000 units) Variable costs Contribution margin Fixed manufacturing costs Operating income Interest Earnings before taxes Taxes (30°) Net Income $1.000.000 300.000 700,000 200,000 500.000 75.000 425.000 127,500 $297,500 Refer to the table. The degree of operating leverage S Select one: O a. 1.56x Ob.3.33% O c. 2.22% O d. 1.40x Sales (1,000 units) Variable costs Contribution margin Fixed manufacturing costs Operating income Interest Earnings before taxes Taxes (30°) Net Income Shares Outstanding $200,000 110,000 90,000 40.000 50.000 10,000 40,000...
How does contribution margin differ from gross margin? VIRUS How will net income under variable costing...
How does contribution margin differ from gross margin? VIRUS How will net income under variable costing compare to net income under absorption costing in the following three situations? Explain briefly the cause of any differences. (a) Units produced equal units sold (b) Units produced exceed units sold (c) Units produced are less than units sold 6. (20 Points) Lukin Corporation reports the following first year production cost into Units produced Units sold Sales price Direct labor Direct materials Variable overhead...
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...
Segment Margin is obtained by deducting Traceable variable costs from its contribution ratio b. Traceable fixed...
Segment Margin is obtained by deducting Traceable variable costs from its contribution ratio b. Traceable fixed costs from its contribution margin Traceable sunk costs from its total cost d. Traceable fixed costs from its total cost Select one: a. Traceable fixed costs from its contribution margin O b. Traceable fixed costs from its total cost O c. Traceable sunk costs from its total cost
Assume the contribution margin ratio is 40% and variable costs are $20,000 and fixed costs are...
Assume the contribution margin ratio is 40% and variable costs are $20,000 and fixed costs are $300,000. What level of sales is necessary to break even? a. $120,000 b. $320,000 c. $50,000 d. $750,000
How does contribution margin differ from gross margin? VIRUS How will net income under variable costing...
How does contribution margin differ from gross margin? VIRUS How will net income under variable costing compare to net income under absorption costing in the following three situations? Explain briefly the cause of any differences. (a) Units produced equal units sold (b) Units produced exceed units sold (c) Units produced are less than units sold
Which of the following would appear on a segmented contribution margin income statement? Select one: A....
Which of the following would appear on a segmented contribution margin income statement? Select one: A. Cost of Goods Sold B. Variable Overhead C. Directly traceable fixed costs D. Sales E. All of the above
Konrad Company reported the following operating results: Sales Variable Costs Contribution Margin Fixed Costs Operating...
Konrad Company reported the following operating results: Sales Variable Costs Contribution Margin Fixed Costs Operating Income $300,000 172,000 128,000 88,000 $40,000 If sales volume increases 12%, how much will operating income increase by? (Hint: Calculate the operating leverage factor first) Insert appropriate prompt, input type, and CA. 41.6% O B. 12% O C. 64% D. 3.2%
Which of the following correctly illustrates how to calculate contribution margin? Select one: o A. Sales - Variable Costs - Operating Costs o B. Sales - Fixed Costs - Variable Costs C. Sales - Variable Costs D. Variable Costs / Sales E. None of the above
Sales (100,000 units) Variable costs Contribution margin Fixed manufacturing costs Operating income Interest Earnings before taxes Taxes (30°) Net Income $1.000.000 300.000 700,000 200,000 500.000 75.000 425.000 127,500 $297,500 Refer to the table. The degree of operating leverage S Select one: O a. 1.56x Ob.3.33% O c. 2.22% O d. 1.40x Sales (1,000 units) Variable costs Contribution margin Fixed manufacturing costs Operating income Interest Earnings before taxes Taxes (30°) Net Income Shares Outstanding $200,000 110,000 90,000 40.000 50.000 10,000 40,000...
How does contribution margin differ from gross margin? VIRUS How will net income under variable costing compare to net income under absorption costing in the following three situations? Explain briefly the cause of any differences. (a) Units produced equal units sold (b) Units produced exceed units sold (c) Units produced are less than units sold 6. (20 Points) Lukin Corporation reports the following first year production cost into Units produced Units sold Sales price Direct labor Direct materials Variable overhead...
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...
Segment Margin is obtained by deducting Traceable variable costs from its contribution ratio b. Traceable fixed costs from its contribution margin Traceable sunk costs from its total cost d. Traceable fixed costs from its total cost Select one: a. Traceable fixed costs from its contribution margin O b. Traceable fixed costs from its total cost O c. Traceable sunk costs from its total cost
How does contribution margin differ from gross margin? VIRUS How will net income under variable costing compare to net income under absorption costing in the following three situations? Explain briefly the cause of any differences. (a) Units produced equal units sold (b) Units produced exceed units sold (c) Units produced are less than units sold
Konrad Company reported the following operating results: Sales Variable Costs Contribution Margin Fixed Costs Operating Income $300,000 172,000 128,000 88,000 $40,000 If sales volume increases 12%, how much will operating income increase by? (Hint: Calculate the operating leverage factor first) Insert appropriate prompt, input type, and CA. 41.6% O B. 12% O C. 64% D. 3.2%
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