The following data for Romero Products Inc. are available Difference- Increase or (Decrease) For the Year...
Contribution margin analysis-sales Instructions Labels and Amount Descriptions Instructions Difference For the Year Ended December 31 1 Actual Planned Increase or (Decrease) 2 Sales $9,120,000.00 $9.020,000.00 $100,000.00 3 Variable costs Variable cost of goods sold 4 $3,363,000.00 $3,157,000.00 $206,000.00 Variable selling and administrative expenses 5 703,000.00 861,000.00 (158,000.00) Total variable costs $4,066,000.00 $4,018,000.00 $48,000.00 7 Contribution margin $5,054,000.00 $5,002,000.00 $52,000.00 Number of units sold 38,000.00 41,000.00 9Per unit: Sales price 10 $240,00 $220.00 Variable cost of goods sold 11 88.50...
The following data for Romero Products Inc. are available: For the Year Ended December 31 Actual Planned Difference—Increase or (Decrease) Sales $1,627,400 $1,468,800 $158,600 Variable costs: Variable cost of goods sold $869,000 $780,300 $88,700 Variable selling and administrative expenses 173,800 168,300 5,500 Total variable costs $1,042,800 $948,600 $94,200 Contribution margin $584,600 $520,200 $64,400 Number of units sold 15,800 15,300 Per unit: Sales price $103 $96 Variable cost of goods sold 55 51 Variable selling and administrative expenses 11 11 Prepare...
The following data for Romero Products Inc. are available: For the Year Ended December 31 Actual Planned Difference—Increase or (Decrease) Sales $1,627,400 $1,468,800 $158,600 Variable costs: Variable cost of goods sold $869,000 $780,300 $88,700 Variable selling and administrative expenses 173,800 168,300 5,500 Total variable costs $1,042,800 $948,600 $94,200 Contribution margin $584,600 $520,200 $64,400 Number of units sold 15,800 15,300 Per unit: Sales price $103 $96 Variable cost of goods sold 55 51 Variable selling and administrative expenses 11 11 Prepare...
Contribution Margin Analysis—Sales The following data for Romero Products Inc. are available: For the Year Ended December 31 Actual Planned Difference—Increase or (Decrease) Sales $2,294,000 $2,102,400 $191,600 Variable costs: Variable cost of goods sold $1,213,600 $1,108,800 $104,800 Variable selling and administrative expenses 236,800 230,400 6,400 Total variable costs $1,450,400 $1,339,200 $111,200 Contribution margin $843,600 $763,200 $80,400 Number of units sold 14,800 14,400 Per unit: Sales price $155 $146 Variable cost of goods sold 82 77 Variable selling and administrative expenses...
The demand for solvent, one of numerous products manufactured by RZM Industries Inc., has dropped sharply because of recent competition from a similar product. The company’s chemists are currently completing tests of various new formulas, and it is anticipated that the manufacture of a superior product can be started on June 1, one month in the future. No changes will be needed in the present production facilities to manufacture the new product because only the mixture of the various materials...
Prior to the first month of operations ending October 31, Marshall Inc. estimated the following operating results: 1 Sales (28,800 × $80) $2,304,000.00 2 Manufacturing costs (28,800 units): 3 Direct materials 1,267,200.00 4 Direct labor 316,800.00 5 Variable factory overhead 172,800.00 6 Fixed factory overhead 221,760.00 7 Fixed selling and administrative expenses 28,800.00 8 Variable selling and administrative expenses 35,800.00 The company is evaluating a proposal to manufacture 36,000 units instead of 28,800 units, thus creating an ending inventory of...
Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit $ 320 per unit Units produced this year 100,000 units Units sold this year 103,500 units Units in beginning-year inventory 3,500 units Beginning inventory costs Variable (3,500 units × $135) $ 472,500 Fixed (3,500 units × $75) 262,500 Total $ 735,000 Manufacturing costs this year Direct materials $ 48 per unit Direct labor $ 62 per unit Overhead...
** how do I calculate the income from operations? I subtracted the sum of fixed manufacturing costs and fixed selling and administrative expenses from the contribution margin and got 15680 but my homework marks it as incorrect. ill put the problem below. On October 31, the end of the first month of operations, Morristown & Co. prepared the following income statement based on absorption costing: Morristown & Co. Absorption Costing Income Statement For Month Ended October 31, 20-- 1 Sales...
The following balance sheet (BS) and income statement (IS) are available for Little Bit Inc. Prepare a statement of cash flows (CF) for 2018: Balance Sheet Cash Accounts Receivable (net) Inventory Prepaid Expenses Total Current Assets Plant and Equipment Less accumulated depreciation Plant and Equipment (net) Long-Term Investments Total Assets Accounts Payable Accrued Liabilities Total Current Liabilities Long-Term Debt Deferred Taxes Total Liabilities Common Stock ($1 par) and additional paid-in Retained earnings Total Liabilities and Equity December 31, 2018 2017...
. Andy Basil Industries Inc. reported the following information about the production and sale of its only product during the first month of operations: Selling price per unit $225.00 Sales $360,000 Direct materials used $176,000 Direct labor $100,000 Variable factory overhead $44,000 Fixed factory overhead $80,000 Variable selling and administrative expenses $20,000 Fixed selling and administrative expenses $10,000 Production volume variance 0 Ending inventory, Direct Materials 0 Ending inventory, Work-in-process 0 Ending inventory, Finished Goods 400 units Under absorption costing,...