Homework Answers
Answer to Question no. 6
| Contibution Margin Income statement | |
| Particulars | Amount |
| Sales | $ 20,000.00 |
| Less : Variable cost | $ (8,000.00) |
| Contribution | $ 12,000.00 |
| Less : Fixed cost | $ (6,000.00) |
| Profit | $ 6,000.00 |
Answer to Question no.7
Contribution Margin = $12,000
Answer to Question no 8
Sale Price perunit - Variable cost per unit = Contribution Per unit
$100 - $40 = $60
Contribution per unit = $60
Answer to Question no.9
Contribution margin ratio = Contribution / Total Sales
Contribution Margin Ratio = $12,000/$20,000 = 60%
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A furniture manufacturer specializes in wood tables. The tables sell for $100 per unit and incur...
A furniture manufacturer specializes in wood tables. The tables sell for $120 per unit and incur...
A furniture manufacturer specializes in wood tables. The tables sell for $120 per unit and incur $65 per unit in variable costs. The company has $5,000 in fixed costs per month. Read the reguirements 6. Prepare a contribution margin income statement for one month if the company sells 580 tables 7. What is the total contribution margin for the month when the company sells 580 tables? The contribution margin is 5 8. What is the unit contribution margin? Select the...
Tl3 T03L 1J DIS OSSIDie A furniture manufacturer specializes in wood tables. The tables sell for...
Tl3 T03L 1J DIS OSSIDie A furniture manufacturer specializes in wood tables. The tables sell for $100 per unit and incur $40 per unit in variable costs. The company has $6,000 in fixed costs per month. Read the requirements 6. Prepare a contribution margin income statement for one month if the company sells 200 tables У FI n UE tté 7. What is the total contribution margin for the month when the company sells 200 tables? ве The contribution margin...
A furniture manufacturer specializes in wood tables. The tables sell for $100 per unit and incur...
A furniture manufacturer specializes in wood tables. The tables sell for $100 per unit and incur $40 per unit in variable costs. The company has $6,000 in fixed costs per month. Expected sales are 200 tables per month. 17. 18. 19. Calculate the margin of safety in units. Determine the degree of operating leverage. Use expected sales. The company begins manufacturing wood chairs to match the tables. Chairs sell for $50 each and have variable costs of $30. The new...
3. The Steve Company manufactures a product that is expected to incur $20 per unit in...
3. The Steve Company manufactures a product that is expected to incur $20 per unit in variable production costs and sell for $32 per unit. The sales commission is 10% of the sales price. Due to intense competition, Steve actually sold 400 units for $30 per unit. The actual variable production costs incurred were $22.50 per unit. Calculate the total contribution margin and contribution margin ratio at the expected price/costs and the actual price/costs. How might management use this information?...
Plymouth Company reports the following information for June (Click the icon to view the amounts) Calculate...
Plymouth Company reports the following information for June (Click the icon to view the amounts) Calculate the contribution margin and operating income for June using variable costing Bogin by selecting the labels and entering the amounts to compute the contribution margin. Then, select the labels and enter the amounts to compute the operating income Variable Costing * Data Table $ Net Sales Revenue Variable Cost of Goods Sold Fred Cost of Goods Sold Variable Selling and Administrative Costs Fixed Selling...
Grippy Co. produces sports socks. The company has fixed costs of $75,000 and variable costs of...
Grippy Co. produces sports socks. The company has fixed costs of $75,000 and variable costs of S0.75 per package. Each package sells for $1.50. Requirements 1. Compute the contribution margin per package and the contribution margin ratio. (Round your answers to two decimal places.) 2. Find the breakeven point in units and in dollars, using the contribution margin approach Requirement 1. Compute the contribution margin per package and the contribution margin ratio Begin by selecting the labels and entering the...
Happy Toss Co. produces sports socks. The company has fixed costs of $91,000 and variable costs...
Happy Toss Co. produces sports socks. The company has fixed costs of $91,000 and variable costs of S0.81 per package. Each package sells for $1.80. Requirements Compule the contribution margin per package and the contribution margin ralio. (Round your answers to Iwo decimal places.) 2. Find the breakeven point in units and in dollars, using the contribution margin approach. 1. Requirement 1. Compute the contribution margin per package and the contribution margin ratio. Begin by selecting the labels and entering...
Skippy Scooters plans to sell a motorized standard scooter for 570 and a motorized chrome scooter...
Skippy Scooters plans to sell a motorized standard scooter for 570 and a motorized chrome scooter for 585. Skippy Scooters purchases the standard scooter for $55 and the chrome scooter for $65. Skippy Scooters expects to sell two chrome scooters for every three standard scooters. Skippy Scooters' monthly fixed expenses are $16,150. How many of each type of scooter must Skippy Scooters sell monthly to break even? To eam S11,9007 First, identify the formula to compute the sales in units...
18.XYZ Cleaning Company cleaned 32 offices and incurred costs of $2,240. What was the cost to...
18.XYZ Cleaning Company cleaned 32 offices and incurred costs of $2,240. What was the cost to clean each office? Select the formula labels, then enter the amounts and compute the cost of cleaning each office. = Unit cost per service = Choose from any list or enter any number in the input fields and then continue to the next question. Select the formula labels, then enter the amounts and compute the cost of cleani ST Total costs Gross profit Total...
8. Boyce, Inc. manufactures children's sandals. Similar sandals manufactured by competitors sell for $12.00 per pair...
8. Boyce, Inc. manufactures children's sandals. Similar sandals manufactured by competitors sell for $12.00 per pair Boyce desires a 30% net profit margin. What is Boyce's target cost? Select the formula, then enter the amounts to compute the target cost. Choose from any list or enter any number in the input fields and then continue to the next question Attempts Sample Tests and Quizzes to search
A furniture manufacturer specializes in wood tables. The tables sell for $120 per unit and incur $65 per unit in variable costs. The company has $5,000 in fixed costs per month. Read the reguirements 6. Prepare a contribution margin income statement for one month if the company sells 580 tables 7. What is the total contribution margin for the month when the company sells 580 tables? The contribution margin is 5 8. What is the unit contribution margin? Select the...
Tl3 T03L 1J DIS OSSIDie A furniture manufacturer specializes in wood tables. The tables sell for $100 per unit and incur $40 per unit in variable costs. The company has $6,000 in fixed costs per month. Read the requirements 6. Prepare a contribution margin income statement for one month if the company sells 200 tables У FI n UE tté 7. What is the total contribution margin for the month when the company sells 200 tables? ве The contribution margin...
A furniture manufacturer specializes in wood tables. The tables sell for $100 per unit and incur $40 per unit in variable costs. The company has $6,000 in fixed costs per month. Expected sales are 200 tables per month. 17. 18. 19. Calculate the margin of safety in units. Determine the degree of operating leverage. Use expected sales. The company begins manufacturing wood chairs to match the tables. Chairs sell for $50 each and have variable costs of $30. The new...
3. The Steve Company manufactures a product that is expected to incur $20 per unit in variable production costs and sell for $32 per unit. The sales commission is 10% of the sales price. Due to intense competition, Steve actually sold 400 units for $30 per unit. The actual variable production costs incurred were $22.50 per unit. Calculate the total contribution margin and contribution margin ratio at the expected price/costs and the actual price/costs. How might management use this information?...
Plymouth Company reports the following information for June (Click the icon to view the amounts) Calculate the contribution margin and operating income for June using variable costing Bogin by selecting the labels and entering the amounts to compute the contribution margin. Then, select the labels and enter the amounts to compute the operating income Variable Costing * Data Table $ Net Sales Revenue Variable Cost of Goods Sold Fred Cost of Goods Sold Variable Selling and Administrative Costs Fixed Selling...
Grippy Co. produces sports socks. The company has fixed costs of $75,000 and variable costs of S0.75 per package. Each package sells for $1.50. Requirements 1. Compute the contribution margin per package and the contribution margin ratio. (Round your answers to two decimal places.) 2. Find the breakeven point in units and in dollars, using the contribution margin approach Requirement 1. Compute the contribution margin per package and the contribution margin ratio Begin by selecting the labels and entering the...
Happy Toss Co. produces sports socks. The company has fixed costs of $91,000 and variable costs of S0.81 per package. Each package sells for $1.80. Requirements Compule the contribution margin per package and the contribution margin ralio. (Round your answers to Iwo decimal places.) 2. Find the breakeven point in units and in dollars, using the contribution margin approach. 1. Requirement 1. Compute the contribution margin per package and the contribution margin ratio. Begin by selecting the labels and entering...
Skippy Scooters plans to sell a motorized standard scooter for 570 and a motorized chrome scooter for 585. Skippy Scooters purchases the standard scooter for $55 and the chrome scooter for $65. Skippy Scooters expects to sell two chrome scooters for every three standard scooters. Skippy Scooters' monthly fixed expenses are $16,150. How many of each type of scooter must Skippy Scooters sell monthly to break even? To eam S11,9007 First, identify the formula to compute the sales in units...
18.XYZ Cleaning Company cleaned 32 offices and incurred costs of $2,240. What was the cost to clean each office? Select the formula labels, then enter the amounts and compute the cost of cleaning each office. = Unit cost per service = Choose from any list or enter any number in the input fields and then continue to the next question. Select the formula labels, then enter the amounts and compute the cost of cleani ST Total costs Gross profit Total...
8. Boyce, Inc. manufactures children's sandals. Similar sandals manufactured by competitors sell for $12.00 per pair Boyce desires a 30% net profit margin. What is Boyce's target cost? Select the formula, then enter the amounts to compute the target cost. Choose from any list or enter any number in the input fields and then continue to the next question Attempts Sample Tests and Quizzes to search
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