The Kyu Lee provides you with the following miscellaneous data regarding operations in 20X0 (in thousands...
The Kyu Lee provides you with the following miscellaneous data regarding operations in 20X0 (in thousands of South Korean won, ₩):
|
Break-even point in sales |
₩ 40,000 |
|
Direct material used |
29,000 |
|
Gross Profit |
20,000 |
|
Contribution Margin |
25,000 |
|
Direct Labour |
30,000 |
|
Sales |
100,000 |
|
Variable manufacturing overhead |
5,000 |
There are no beginning or ending inventories
Compute (a) the fixed manufacturing overhead (b) variable selling and administrative expenses and (c) fixed selling and administrative expenses
Homework Answers
a) Cost of goods sold = Sales-Gross profit = 100000-20000 = 80000
Fixed manufacturing overhead = 80000-29000-30000-5000 = 16000
b) Variable cost = Sales-Contribution margin = 100000-25000 = 75000
Variable selling and administrative expense = 75000-29000-30000-5000 = 11000
c) Contribution margin ratio = 25000/100000 = 25%
Fixed cost = 40000*25% = 10000
Fixed selling and administrative overhead =
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