Marwick's Pianos Inc | ||
Traditional Income Statement | ||
For the Month of August | ||
Sales revenue | $ 1,77,000.00 | |
Less: Cost of Goods sold | $ 87,969.00 | |
Gross Profit | $ 89,031.00 | |
Selling and Administrative Expense | ||
Selling Expenses | ||
Advertising | $ 938.00 | |
Sales salaries and Commission | $ 13,636.00 | |
Delivey Expense | $ 3,658.00 | |
Utilities | $ 646.00 | |
Depreciation of sales facility | $ 4,997.00 | |
Total Selling Expenses | $ 23,875.00 | |
Administrative Expenses | ||
Executive Salaries | $ 13,497.00 | |
Insurance | $ 706.00 | |
Clerical | $ 4,891.00 | |
Depreciation- Office Equipment | $ 871.00 | |
Total Administrative expenses | $ 19,965.00 | |
Total Selling and Administrative Expense | $ 43,840.00 | |
Net income | $ 45,191.00 |
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Marwick's Pianos Inc | ||
Contribution formal Income statement | ||
For the Month of August | ||
Total | Per Piano | |
Sales | $ 1,77,000.00 | $ 3,000.00 |
variable Expenses | ||
Direct material cost | $ 87,969.00 | $ 1,491.00 |
Variable Sales salaries and Commission | $ 8,850.00 | $ 150.00 |
Delivery Expenses | $ 3,658.00 | $ 62.00 |
Clerical | $ 2,360.00 | $ 40.00 |
Total Variable Cost | $ 1,02,837.00 | $ 1,743.00 |
Contribution Margin | $ 74,163.00 | $ 1,257.00 |
Fixed costs | ||
Advertising | $ 938.00 | |
Fixed Sales salaries and Commission | $ 4,786.00 | |
Utilities | $ 646.00 | |
Depreciation- Sales Facility | $ 4,997.00 | |
Executive salaries | $ 13,497.00 | |
Insurance | $ 706.00 | |
Clerical fixed cost | $ 2,531.00 | |
Depreciation- Office equipment | $ 871.00 | |
Total Fixed cost | $ 28,972.00 | |
Net Income | $ 45,191.00 |
Marwick's Pianos, Inc, purchases pianos from a large manufacturer and sells them at the retail level....
Marwick’s Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level. The pianos cost, on the average, $1,484 each from the manufacturer. Marwick’s Pianos, Inc., sells the pianos to its customers at an average price of $2,600 each. The selling and administrative costs that the company incurs in a typical month are presented below: Marwick's Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level. The pianos cost, on...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,519 per unit and then sells them to retail customers for an average price of $2,400 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative Executive salaries Insurance Clerical Depreciation of office equipment $942 per month $4,786 per month, plus 48...
Marwick's Pisnos, Inc., purchases pianos from a large manufacturer for an average cost of $1,520 per unit and then sells them to retail customers for an average price of $2.800 esch. The company's selling and administrative costs for a typical month are presented below: Cost Formula Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries $957 per month $4,773 per month, plus 5% of sales $61 per piano sold $668...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,511 per unit and then sells them to retail customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $964 per month $4,786 per month, plus 4%...
Need traditional income statement. Marwick's Pianos, Inc., purchases planos from a large manufacturer for an average cost of $1,505 per unit and then sells them to retail customers for an average price of $3,400 each. The company's selling and administrative costs for a typical month are presented below Cost Formula Song Advertising $950 per month Sales salaries and commissions 54,820 per month, plus 6% of sales Delivery of plans to customers $81 per piano sold Us 5667 per month Depreciation...
Marwick's Planos, Inc., purchases pianos from a large manufacturer for an average cost of $1,484 per unit and then sells them to retail customers for an average price of $2,900 each. The company's selling and administrative costs for a typical month are presented below Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $931 per month $4,772 per month, plus 6%...
Please help! I always to thumbs up, thanks! Marwick's Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level. The pianos cost, on the average, $1,480 each from the manufacturer. Marwick's Pianos, Inc., sells the pianos to its customers at an average price of $2,800 each. The selling and administrative costs that the company incurs in a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1.483 per unit and then sells them to retail customers for an average price of $2,600 esch. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries $953 per month $4,813 per month, plus 4% of sales $62 per piano sold...
Marwick’s Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level. The pianos cost, on the average, $1,500 each from the manufacturer. Marwick’s Pianos, Inc., sells the pianos to its customers at an average price of $3,400 each. The selling and administrative costs that the company incurs in a typical month are presented below: Selling: Advertising $ 954 per month Sales salaries and commissions $ 4,819 per month, plus 5% of sales Delivery of pianos...
Marwick's Pianos, Inc. purchases planos from a large manufacturer for an average cost of $1,514 per unit and then sells them to retail customers for an average price of $2,300 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative Executive salaries Insurance Clerical Depreciation of office equipment $942 per month $4,822 per month, plus 48...