Homework Answers
| Particulars | In $ |
| Sales | 23040 |
| Less- Variable Cost | |
| Cost of goods sold | 20160 |
| Commission | 720 |
| Contribution Margin | 2160 |
| Less- Fixed Cost | |
| Salaries | 1020 |
| Operating Income | 1140 |
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Restate the following income statement for a merchandising company in contribution format. $23,040 20,160 2,880 Sales...
Question 2 View Policies Current Attempt in Progress Restate the following income statement for a retailer...
Question 2 View Policies Current Attempt in Progress Restate the following income statement for a retailer in contribution format. $ 94,000 58,280 35,720 Sales revenue ($100 per unit) Less cost of goods sold ($62 per unit) Gross margin Less operating costs: Commissions expense ($7 per unit) $6,580 Salaries expense 7,800 Advertising expense 5,900 Shipping expense ($1 per unit) 940 Operating income 21,220 $ 14,500 Per Unit Touthookand Modis
Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit)...
Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ 64,000 Less cost of goods sold ($62 per unit) 39,680 Gross margin 24,320 Less operating costs: Commissions expense ($7 per unit) $ 4,480 Salaries expense 7,900 Advertising expense 6,000 Shipping expense ($2 per unit) 1,280 19,660 Operating income $ 4,660 Per Unit select an income statement item $enter a dollar amount $enter a dollar amount Select an opening name for section one: Select...
View Policies -15 Current Attempt in Progress Restate the following income statement for a retailer in...
View Policies -15 Current Attempt in Progress Restate the following income statement for a retailer in contribution format. $ 50,000 31,000 19.000 Sales revenue ($100 per unit) Less cost of goods sold ($62 per unit) Gross margin Less operating costs: Commissions expense ($5 per unit) $ 2,500 Salaries expense 7.900 Advertising expense 5,900 Shipping expense ($1 per unit) 500 Operating income 16,800 2,200 $ Per Unit $ $ $ o arch delete Question 3 of 5 -15 III Per Unit...
Current Attempt in Progress - Your answer is partially correct. Restate the following income statement for...
Current Attempt in Progress - Your answer is partially correct. Restate the following income statement for a retailer in contribution format. $ 98,000 56,840 41,160 Sales revenue ($100 per unit) Less cost of goods sold ($58 per unit) Gross margin Less operating costs: Commissions expense ($5 per unit) $4,900 Salaries expense 7,900 Advertising expense Shipping expense ($3 per unit) 2,9% Operating income 5,800 21,540 $ 19,620 Per Unit 98.000 Sales Revenue Variable Expenses 56820 Cost of Goods Sold Per Unit...
Exercise 2-13A Using contribution margin format income statement to measure the magnitude of operating leverage The...
Exercise 2-13A Using contribution margin format income statement to measure the magnitude of operating leverage The following income statement was drawn from the records of Joel Company, a merchandising firm: JOEL COMPANY Income Statement For the Year Ended December 31, 2018 Sales revenue (2,000 units x $125) Cost of goods sold (2,000 units x $65) Gross margin Sales commissions (10% of sales) Administrative salaries expense Advertising expense Depreciation expense Shipping and handling expenses (2,000 units x $1.00) Net income $...
Need help finding Total Variable Expense and Contribution Margin. Please explain how to find, Thank you!...
Need help finding Total Variable Expense and
Contribution Margin. Please explain how to find, Thank
you!
Restate the following income statement for a retailer in contribution format. $ 93,000 53,940 39,060 Sales revenue ($100 per unit) Less cost of goods sold ($58 per unit) Gross margin Less operating costs: Commissions expense ($7 per unit) $ 6,510 Salaries expense 7,900 Advertising expense 6,000 Shipping expense ($3 per unit) 2,790 Operating income 23,200 $ 15,860 Sales Revenue 93000 100 Variable Expenses Cost...
The following income statement was drawn from the records of Campbell Company, a merchandising firm: CAMPBELL COM...
The following income statement was drawn from the records of Campbell Company, a merchandising firm: CAMPBELL COMPANY Income Statement For the Year Ended December 31, 2018 $1,072,500 (559,000) 513,500 (53,625) (84,000) (35,000) (48,000) Sales revenue (6,500 units x $165) Cost of goods sold (6,500 units x $86) Gross margin Sales commissions (58 of sales) Administrative salaries expense Advertising expense Depreciation expense Shipping and handling expenses (6,500 units x $2) (13,000) 279,875 Net income Required a. Reconstruct the income statement using...
Exercise 11-15 Using contribution margin format income statement to measure the magnitude of operating leverage LO...
Exercise 11-15 Using contribution margin format income statement to measure the magnitude of operating leverage LO 11-3, 11-4 The following income statement was drawn from the records of Munoz Company, a merchandising firm: MUNOZ COMPANY Income Statement For the Year Ended December 31, 2018 Sales revenue (6,500 units x $167) Cost of goods sold (6,500 units X $85) Gross margin Sales commissions (5% of sales) Administrative salaries expense Advertising expense Depreciation expense Shipping and handling expenses (6,500 units X $4)...
Please show work. Thank you Group Problem 3 Contribution Margin Format Income Statement Morrisey & Brown...
Please show work. Thank you
Group Problem 3 Contribution Margin Format Income Statement Morrisey & Brown Ltd, of Sydney, is a merchandising firm that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow. Type July 4,000 Aug 4,500 Sept 5,000 Sales in units Sales Revenue Less Cost of Goods Sold Gross Margin $400,000 240,000 $450,000 270.000 $500,000 300,000 $160,000 $180,000 $200,000 Less Operating...
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000...
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 20,000 13,000 7,000 3,780 $ 3,220 Foundational 5-5 5. If sales decline to 900 units, what would be the net operating income? Net operating income Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000...
Question 2 View Policies Current Attempt in Progress Restate the following income statement for a retailer in contribution format. $ 94,000 58,280 35,720 Sales revenue ($100 per unit) Less cost of goods sold ($62 per unit) Gross margin Less operating costs: Commissions expense ($7 per unit) $6,580 Salaries expense 7,800 Advertising expense 5,900 Shipping expense ($1 per unit) 940 Operating income 21,220 $ 14,500 Per Unit Touthookand Modis
View Policies -15 Current Attempt in Progress Restate the following income statement for a retailer in contribution format. $ 50,000 31,000 19.000 Sales revenue ($100 per unit) Less cost of goods sold ($62 per unit) Gross margin Less operating costs: Commissions expense ($5 per unit) $ 2,500 Salaries expense 7.900 Advertising expense 5,900 Shipping expense ($1 per unit) 500 Operating income 16,800 2,200 $ Per Unit $ $ $ o arch delete Question 3 of 5 -15 III Per Unit...
Current Attempt in Progress - Your answer is partially correct. Restate the following income statement for a retailer in contribution format. $ 98,000 56,840 41,160 Sales revenue ($100 per unit) Less cost of goods sold ($58 per unit) Gross margin Less operating costs: Commissions expense ($5 per unit) $4,900 Salaries expense 7,900 Advertising expense Shipping expense ($3 per unit) 2,9% Operating income 5,800 21,540 $ 19,620 Per Unit 98.000 Sales Revenue Variable Expenses 56820 Cost of Goods Sold Per Unit...
Exercise 2-13A Using contribution margin format income statement to measure the magnitude of operating leverage The following income statement was drawn from the records of Joel Company, a merchandising firm: JOEL COMPANY Income Statement For the Year Ended December 31, 2018 Sales revenue (2,000 units x $125) Cost of goods sold (2,000 units x $65) Gross margin Sales commissions (10% of sales) Administrative salaries expense Advertising expense Depreciation expense Shipping and handling expenses (2,000 units x $1.00) Net income $...
Need help finding Total Variable Expense and
Contribution Margin. Please explain how to find, Thank
you!
Restate the following income statement for a retailer in contribution format. $ 93,000 53,940 39,060 Sales revenue ($100 per unit) Less cost of goods sold ($58 per unit) Gross margin Less operating costs: Commissions expense ($7 per unit) $ 6,510 Salaries expense 7,900 Advertising expense 6,000 Shipping expense ($3 per unit) 2,790 Operating income 23,200 $ 15,860 Sales Revenue 93000 100 Variable Expenses Cost...
The following income statement was drawn from the records of Campbell Company, a merchandising firm: CAMPBELL COMPANY Income Statement For the Year Ended December 31, 2018 $1,072,500 (559,000) 513,500 (53,625) (84,000) (35,000) (48,000) Sales revenue (6,500 units x $165) Cost of goods sold (6,500 units x $86) Gross margin Sales commissions (58 of sales) Administrative salaries expense Advertising expense Depreciation expense Shipping and handling expenses (6,500 units x $2) (13,000) 279,875 Net income Required a. Reconstruct the income statement using...
Exercise 11-15 Using contribution margin format income statement to measure the magnitude of operating leverage LO 11-3, 11-4 The following income statement was drawn from the records of Munoz Company, a merchandising firm: MUNOZ COMPANY Income Statement For the Year Ended December 31, 2018 Sales revenue (6,500 units x $167) Cost of goods sold (6,500 units X $85) Gross margin Sales commissions (5% of sales) Administrative salaries expense Advertising expense Depreciation expense Shipping and handling expenses (6,500 units X $4)...
Please show work. Thank you
Group Problem 3 Contribution Margin Format Income Statement Morrisey & Brown Ltd, of Sydney, is a merchandising firm that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow. Type July 4,000 Aug 4,500 Sept 5,000 Sales in units Sales Revenue Less Cost of Goods Sold Gross Margin $400,000 240,000 $450,000 270.000 $500,000 300,000 $160,000 $180,000 $200,000 Less Operating...
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 20,000 13,000 7,000 3,780 $ 3,220 Foundational 5-5 5. If sales decline to 900 units, what would be the net operating income? Net operating income Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000...
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