Homework Answers
| TOTAL | PER UNIT | |
| Sales (8,000*47) | 376,000 | 47 |
| Variable costs (8,000*24) | 192,000 | 24 |
| Contribution margin | 184,000 | 23 |
| Fixed cost | 124,000 | |
| Net income (Loss) | 60,000 |
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Do It! Review 5-3 Ivanhoe Industries produces and sells a cell phone-operated home security control. Information...
Return to Blackboard IC Weygandt, Financial and Managerial Be Help System Announcements regarding the costs and...
Return to Blackboard IC Weygandt, Financial and Managerial Be Help System Announcements regarding the costs and sales of security controls during May 2020 are provided below. Question 7 Clumber Industries produces and sells a cell phone operated home security control. Informa Unit selling price of security control Unit variable costs Total monthly fixed costs Units sold $128.000 Prepare a CVP Income statement for Cullumber Industries for the month of May. Provide per unit values and total values Cullumber Industries CVP...
Exercise 5-13 (Video) Ivanhoe Company has the following information available for September 2020. Unit se...
Exercise 5-13 (Video)
Ivanhoe Company has the following information available for
September 2020.
Unit selling price of video game consoles
$480
Unit variable costs
$336
Total fixed costs
$63,360
Units sold
600
Compute the unit contribution margin.
Unit contribution margin
Prepare a CVP income statement that shows both total and per
unit amounts.
IVANHOE COMPANY
CVP Income Statement
For the Month Ended September 30, 2020
Total
Per Unit
Administrative ExpensesContribution MarginCost of Goods SoldFixed
CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable
Costs
$...
Bref Exercise 5- Ivanhoe Inc. had sales of $2,410,000 for the first quarter of 2020. In...
Bref Exercise 5- Ivanhoe Inc. had sales of $2,410,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $940,000 109,000 97,000 Fixed $466,000 72,000 106,000 Prepare a CVP income statement for the quarter ended March 31, 2020. IVANHOE INC. CVP Income Statement For the Quarter Ended March 31, 2020 Click if you would like to Show Work for this question: Open Show...
Oriole Company has the following information available for September 2020. Unit selling price of video game...
Oriole Company has the following information available for September 2020. Unit selling price of video game consoles Unit variable costs Total fixed costs Units sold $420 $252 $63,840 600 Your answer is correct. Compute the unit contribution margin. Unit contribution margin 168 e Textbook and Media Your answer is correct. Prepare a CVP income statement that shows both total and per unit amounts. ORIOLE COMPANY CVP Income Statement For the Month Ended September 30, 2020 Total Per Unit Sales 252000...
Prepare a CVP income statement for December 31, 2020. Problem -SoHo Co. produces and sells a...
Prepare a CVP income statement for December 31, 2020.
Problem -SoHo Co. produces and sells a jeweled handbag to retail stores in the New York area. In 2019, the company sold 51,000 units of the handbag. Sales and costs for that level of sales is as follows: Sales $2,040,000 Variable costs 1,632,000 Contribution margin 408,000 Fixed costs 127,500 Net income 280,500 Required: Prepare a CVP income statement for December 31, 2020 for the SoHo. Assume that the company expects total...
Pharoah Company has the following information available for September 2020. Unit selling price of video game...
Pharoah Company has the following information available for September 2020. Unit selling price of video game consoles Unit variable costs Total fixed costs Units sold $520 $364 $48,360 600 Compute the unit contribution margin. Unit contribution margin LINK TO TEXT LINK TO TEXT Prepare a CVP income statement that shows both total and per unit amounts. PHAROAH COMPANY CVP Income Statement For the Month Ended September 30, 2020 Total Per Unit Compute Pharoah' break-even point in units. Break-even point in...
answer with an explanation Question 1: Talal Industries developed the following information for the product it sell...
answer with an explanation
Question 1: Talal Industries developed the following information for the product it sells: $ $ of total Sales Variable cost of goods sold Fixed cost of goods sold Variable selling costs Variable administrative costs Fixed selling Fixed adminstrative costs Selling price Sales 23.00 800,000 10% 2.00 500,000 300,000 $ S $ 50 100,000 Units "rended December 31, 2017, the company produced and sold 100,000 units of product For the year ended Decem Instructions (a) Prepare a...
Translate Income statements under absorption costing and variable costing Fresno Industries Inc. manufactures and sells high-quality...
Translate Income statements under absorption costing and variable costing Fresno Industries Inc. manufactures and sells high-quality camping tents. The company began operations on January 1 and operated at 100% of capacity (166,000 units) during the first month, creating an ending inventory of 21,000 units. During February, the company produced 145,000 units during the month but sold 166,000 units at $540 per unit. The February manufacturing costs and selling and administrative expenses were as follows: Number of Total Unit Cost Units...
Income Statements under Absorption Costing and Variable Costing Fresno Industries Inc. manufactures and sells high-quality camping...
Income Statements under Absorption Costing and Variable Costing Fresno Industries Inc. manufactures and sells high-quality camping tents. The company began operations on January 1 and operated at 100% of capacity (58,300 units) during the first month, creating an ending inventory of 5,300 units. During February, the company produced 53,000 units during the month but sold 58,300 units at $115 per unit. The February manufacturing costs and selling and administrative expenses were as follows: Number of Units Unit Cost Total Cost...
Pharoah Company has the following information available for September 2020 $520 $364 Unit selling price of...
Pharoah Company has the following information available for September 2020 $520 $364 Unit selling price of video game consoles Unit variable costs Total fed costs Units sold 548,360 600 Compute the unit contribution margin Unit contribution margin e Textbook and Media Prepare a CVP Income statement that shows both total and per unit amounts PHAROAH COMPANY CVP Income Statement For the Month Ended September 30, 2020 Total Per Unit e Textbook and Media Compute Pharoah' break-even point in units. Break-even...
Return to Blackboard IC Weygandt, Financial and Managerial Be Help System Announcements regarding the costs and sales of security controls during May 2020 are provided below. Question 7 Clumber Industries produces and sells a cell phone operated home security control. Informa Unit selling price of security control Unit variable costs Total monthly fixed costs Units sold $128.000 Prepare a CVP Income statement for Cullumber Industries for the month of May. Provide per unit values and total values Cullumber Industries CVP...
Exercise 5-13 (Video)
Ivanhoe Company has the following information available for
September 2020.
Unit selling price of video game consoles
$480
Unit variable costs
$336
Total fixed costs
$63,360
Units sold
600
Compute the unit contribution margin.
Unit contribution margin
Prepare a CVP income statement that shows both total and per
unit amounts.
IVANHOE COMPANY
CVP Income Statement
For the Month Ended September 30, 2020
Total
Per Unit
Administrative ExpensesContribution MarginCost of Goods SoldFixed
CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable
Costs
$...
Bref Exercise 5- Ivanhoe Inc. had sales of $2,410,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $940,000 109,000 97,000 Fixed $466,000 72,000 106,000 Prepare a CVP income statement for the quarter ended March 31, 2020. IVANHOE INC. CVP Income Statement For the Quarter Ended March 31, 2020 Click if you would like to Show Work for this question: Open Show...
Oriole Company has the following information available for September 2020. Unit selling price of video game consoles Unit variable costs Total fixed costs Units sold $420 $252 $63,840 600 Your answer is correct. Compute the unit contribution margin. Unit contribution margin 168 e Textbook and Media Your answer is correct. Prepare a CVP income statement that shows both total and per unit amounts. ORIOLE COMPANY CVP Income Statement For the Month Ended September 30, 2020 Total Per Unit Sales 252000...
Prepare a CVP income statement for December 31, 2020.
Problem -SoHo Co. produces and sells a jeweled handbag to retail stores in the New York area. In 2019, the company sold 51,000 units of the handbag. Sales and costs for that level of sales is as follows: Sales $2,040,000 Variable costs 1,632,000 Contribution margin 408,000 Fixed costs 127,500 Net income 280,500 Required: Prepare a CVP income statement for December 31, 2020 for the SoHo. Assume that the company expects total...
Pharoah Company has the following information available for September 2020. Unit selling price of video game consoles Unit variable costs Total fixed costs Units sold $520 $364 $48,360 600 Compute the unit contribution margin. Unit contribution margin LINK TO TEXT LINK TO TEXT Prepare a CVP income statement that shows both total and per unit amounts. PHAROAH COMPANY CVP Income Statement For the Month Ended September 30, 2020 Total Per Unit Compute Pharoah' break-even point in units. Break-even point in...
answer with an explanation
Question 1: Talal Industries developed the following information for the product it sells: $ $ of total Sales Variable cost of goods sold Fixed cost of goods sold Variable selling costs Variable administrative costs Fixed selling Fixed adminstrative costs Selling price Sales 23.00 800,000 10% 2.00 500,000 300,000 $ S $ 50 100,000 Units "rended December 31, 2017, the company produced and sold 100,000 units of product For the year ended Decem Instructions (a) Prepare a...
Translate Income statements under absorption costing and variable costing Fresno Industries Inc. manufactures and sells high-quality camping tents. The company began operations on January 1 and operated at 100% of capacity (166,000 units) during the first month, creating an ending inventory of 21,000 units. During February, the company produced 145,000 units during the month but sold 166,000 units at $540 per unit. The February manufacturing costs and selling and administrative expenses were as follows: Number of Total Unit Cost Units...
Pharoah Company has the following information available for September 2020 $520 $364 Unit selling price of video game consoles Unit variable costs Total fed costs Units sold 548,360 600 Compute the unit contribution margin Unit contribution margin e Textbook and Media Prepare a CVP Income statement that shows both total and per unit amounts PHAROAH COMPANY CVP Income Statement For the Month Ended September 30, 2020 Total Per Unit e Textbook and Media Compute Pharoah' break-even point in units. Break-even...
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