Halcyon Company | ||
Contribution Margin | ||
Particulars | Amount | Amount |
Sales | $ 1,11,890.00 | |
Variable Costs | ||
Direct Materail | $ 26,500.00 | |
Direct labor | $ 47,000.00 | |
Variable Manufacturing OH | $ 17,000.00 | |
Total Variable Costs | $90,500.00 | |
Variable Cost of 6700 Units | $ 60,635.00 | |
Contribution Margin | $ 51,255.00 |
Contribution Margin for the Year is $51255
The accounting records for Halcyon Company included the following cost information relating to its first year...
The accounting records for Moss Manufacturing Company included the following cost information relating to its first year of operations: Direct materials Direct labor Fixed manufacturing overhead Variable manufacturing overhead $ 23,500 $ 53,000 $ 37,000 $ 23,000 Assume the company produced 10,000 units of inventory and sold 7300 of these units for $126,290. What amount of finished goods will be reported on the balance sheet at the end of the year under variable costing? $58,865 $26,865 $62,865 None of these...
The following data are from the accounting records of Niles Castings for year 2: 86,000 Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs $ 320,000 64,000 34,000 11,000 48,000 17,000 31,000 Required: a. Prepare a gross margin income statement. Gross Margin Income Statement b. Prepare a contribution margin income statement Contribution Margin Income Statement MacBoo
The following data are from the accounting records of Niles Castings for year 2: 88,000 Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs $ 270,000 61,000 38,000 10,000 42,000 14,500 34,000 Required: a. Prepare a gross margin income statement. Gross Margin Income Statement b. Prepare a contribution margin income statement Contribution Margin Income Statement
Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations: Per Year Selling price Direct materials Direct labor Variable manufacturing overhead Sales commission Fixed manufacturing overhead Per Unit $200 $ 65 $ 50 $ 8 $ 8 $300,000 Using variable costing, what is the company's contribution margin? Multiple Choice $495,000 $423,000 < Prey 6 of 10 Next > Sa Fixed manufacturing overhead Using variable costing, what is the company's...
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $7 per unit, Direct labor, $5 per unit, Variable overhead, $6 per unit, and Fixed overhead, $270,000. The company produced 27,000 units, and sold 18,500 units, leaving 8,500 units in inventory at year-end. Income calculated under variable costing is determined to be $355,000. How much income is reported under absorption costing?
Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 42,000 units and sold 34,000 units at a price of $110 per unit. Manufacturing costs Direct materials per unit $ 42 Direct labor per unit $ 16 Variable overhead per unit $ 5 Fixed overhead for the year $ 378,000 Selling and administrative costs Variable selling and administrative cost per unit $ 11 Fixed selling and...
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct Materials, $7 per unitto be $335,, Direct labor $5 per unit, Variable overhead $6 per unit and fixed overhead, $253,000. The company produced 23000 units and sold 16,500 units leaving 6,500 in inventory at year end. Income calculated under variable costing is determined to be $335,000. How much income is reported under absorption costing?
The following data are from the accounting records of Niles Castings for year 2: Units produced and sold 84,000 Total revenues and costs Sales revenue $ 280,000 Direct materials costs 65,000 Direct labor costs 32,000 Variable manufacturing overhead 16,000 Fixed manufacturing overhead 48,000 Variable marketing and administrative costs 14,500 Fixed marketing and administrative costs 39,000 a. Prepare a gross margin income statement sales revenue variable manufacturing costs fixed manufacturing costs gross margin fixed marketing and administrative costs variable marketing and...
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per unit, Direct labor, $2 per unit, Variable overhead, $4 per unit, and Fixed overhead, $390,000. The company produced 39,000 units, and sold 30,000 units, leaving 9,000 units in inventory at year-end. Income calculated under variable costing is determined to be $415,000. How much income is reported under absorption costing? Multiple Choice $415,000 $325,000 $805,000 $505,000
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per unit, Direct labor, $2 per unit, Variable overhead, $4 per unit, and Fixed overhead, $324,000. The company produced 36,000 units, and sold 28,500 units, leaving 7,500 units in inventory at year-end. Income calculated under variable costing is determined to be $400,000. How much income is reported under absorption costing? Multiple Choice $400,000 $332,500 $724,000 $467,500