Homework Answers
Answer to problem number 98
Contribution margin =$240,000
Explanation to the answer
In CVP income statement we need to find out the contribution margin instead of gross margin which we generally find in the normal income statement so here we need to find out the contribution margin as under
|
Sale (A) |
500000 |
|
Less: Variable cost (B) |
260000 |
|
Contribution margin (C=A-B) |
240000 |
Answer to problem number 142
Margin of safety for the June =$166600
Explanation to the answer
|
Selling price per unit: |
34 |
|
Less: variable cost per unit: |
14 |
|
Contribution margin per unit |
20 |
Margin of Safety in units
=Actual sales-Break even sales
Now we need to find out the Break even sales first
So Break even sales
Break even point in units:
= Fixed Cost /Contribution margin per unit
=42,000/20
=2100 units
Margin of Safety in units
=Actual sales-Break even sales
=7000 units-2100 units
=4,900 units
Margin of Safety in terms of dollar
=4,900 units x 34
=166600
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Multiple Choice Question 98 The following information is available for Vaughn Manufacturing: $150000 Sales Cost of...
Multiple Choice Question 98 The following information is available for Vaughn Manufacturing: $150000 Sales Cost of goods sold $600000 400000 Total fixed expenses Total variable expenses 350000 A CVP income statement would report gross profit of $200000. gross profit of $250000. contribution margin of $250000. O contribution margin of $450000.
Multiple Choice Question 98 The following information is available for Sunland Company: Sales Cost of goods...
Multiple Choice Question 98 The following information is available for Sunland Company: Sales Cost of goods sold $620000 420000 Total fixed expenses Total variable expenses $150000 370000 A CVP income statement would report contribution margin of $250000. gross profit of $200000. gross profit of $250000. contribution margin of $470000.
Question 5 The following information is available for Marigold Corp.: Sales Cost of goods sold $660000...
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Announcements TIMER SOURCES ng 20 Question 11 The following information is available for Waterway Industries: Sales...
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The following information is available for Swifty Corporation: Sales $560000 Total fixed expenses $150000 Cost of...
The following information is available for Swifty
Corporation:
Sales
$560000
Total fixed expenses
$150000
Cost of goods sold
360000
Total variable expenses
320000
A CVP income statement would report
gross profit of $200000.
contribution margin of $240000.
contribution margin of $410000.
gross profit of $240000.
Question 16
It costs Vaughn Company $26 per unit ($18 variable and $8 fixed)
to produce its product, which normally sells for $38 per unit. A
foreign wholesaler offers to purchase 4800 units at $21...
Multiple Choice Question 58 Use the following table, Present Value of an Annuity of 1 Period...
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Multiple Choice Question 98 The following information is taken from the production budget for the first...
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Multiple Choice Question 145 Concord Consulting started the year with total assets of $58400 and total...
Multiple Choice Question 145 Concord Consulting started the year with total assets of $58400 and total liabilities of $14700. During the year, the business recorded $4900 in consulting revenues and $30900 in expenses Concord made an additional investment of $9100 and withdrew cash of $15000 during the year. The net income reported by Concord Consulting for the year was O $18000 O $3000. $1800 O $16800 Click you would like to show Work for this question Open Show Work
Multiple Choice Question 153 At the break-even point, O contribution margin equals total variable costs. O...
Multiple Choice Question 153 At the break-even point, O contribution margin equals total variable costs. O sales equal total fixed costs. O sales equal total variable costs. O contribution margin equals total fixed costs. Click if you would like to Show Work for this question: Open Show Work! Question Atte bice hoice Type here to search
Multiple Choice Question 98 The following information is available for Oriole Company: Sales $550000 Cost of goods sold 350000 Total fixed expenses Total variable expenses $150000 310000 A CVP income statement would report contribution margin of $400000. O gross profit of $240000. O contribution margin of $240000. O gross profit of $200000.
Multiple Choice Question 98 The following information is available for Vaughn Manufacturing: $150000 Sales Cost of goods sold $600000 400000 Total fixed expenses Total variable expenses 350000 A CVP income statement would report gross profit of $200000. gross profit of $250000. contribution margin of $250000. O contribution margin of $450000.
Multiple Choice Question 98 The following information is available for Sunland Company: Sales Cost of goods sold $620000 420000 Total fixed expenses Total variable expenses $150000 370000 A CVP income statement would report contribution margin of $250000. gross profit of $200000. gross profit of $250000. contribution margin of $470000.
Question 5 The following information is available for Marigold Corp.: Sales Cost of goods sold $660000 460000 Total fixed expenses Total variable expenses $150000 410000 A CVP income statement would report O contribution margin of $250000. O gross profit of $200000. O contribution margin of $510000. O gross profit of $250000. Click if you would like to Show Work for this question: Open Show LINK TO TEXT
Announcements TIMER SOURCES ng 20 Question 11 The following information is available for Waterway Industries: Sales $610000 Total fixed expenses $150000 Cost of goods sold 410000 Total variable expenses 360000 A CVP income statement would report O gross profit of $250000. contribution margin of $460000. o contribution margin of $250000. O gross profit of $200000. Click if you would like to Show Work for this question: Open Show Work by Study
The following information is available for Swifty
Corporation:
Sales
$560000
Total fixed expenses
$150000
Cost of goods sold
360000
Total variable expenses
320000
A CVP income statement would report
gross profit of $200000.
contribution margin of $240000.
contribution margin of $410000.
gross profit of $240000.
Question 16
It costs Vaughn Company $26 per unit ($18 variable and $8 fixed)
to produce its product, which normally sells for $38 per unit. A
foreign wholesaler offers to purchase 4800 units at $21...
Multiple Choice Question 98 The following information is taken from the production budget for the first quarter: 800 Beginning inventory in units Sales budgeted for the quarter Production capacity in units 366000 382000 How many finished goods units should be produced during the quarter if the company desires 2800 units available to start the next quarter? 368800 368000 384000 364000 Click if you would like to Show Work for this question: Open Show Work
Multiple Choice Question 145 Concord Consulting started the year with total assets of $58400 and total liabilities of $14700. During the year, the business recorded $4900 in consulting revenues and $30900 in expenses Concord made an additional investment of $9100 and withdrew cash of $15000 during the year. The net income reported by Concord Consulting for the year was O $18000 O $3000. $1800 O $16800 Click you would like to show Work for this question Open Show Work
Multiple Choice Question 153 At the break-even point, O contribution margin equals total variable costs. O sales equal total fixed costs. O sales equal total variable costs. O contribution margin equals total fixed costs. Click if you would like to Show Work for this question: Open Show Work! Question Atte bice hoice Type here to search
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