Homework Answers
| Ans. | Number of Units Sold | ||||
| 5400 | 5600 | ||||
| Sales revenue | $194,400 | $201,600 | |||
| Less: Variable expenses | $129,600 | $134,400 | |||
| Contribution margin | $64,800 | $67,200 | |||
| Less: Fixed expenses | $60,000 | $60,000 | |||
| Net income | $4,800 | $7,200 | |||
| *Calculations: | |||||
| Number of Units Sold | |||||
| 5400 | 5600 | ||||
| Sales revenue | 5,400 * $36 | 5,600 * $36 | |||
| Variable expenses | 5,400 * $24 | 5,600 * $24 | |||
| Contribution margin is the difference between sales revenue and variable expenses. | |||||
| *Fixed expenses remain constant on each level of activity. | |||||
| Net income is the difference between contribution margin and fixed expenses. | |||||
Add Answer to:
12 Total 14 15 16 17 18 Answ Unans Fill in the blanks. Time Complete the following to reveal the effect of fixed an...
14 15 16 17 18 19 Answered Unanswere Fill in the blanks. Time Based on the...
14 15 16 17 18 19 Answered Unanswere Fill in the blanks. Time Based on the following information, prepare a contribution margin income statement assuming the company uses variable costing. 00 50.000 units 540 per unit Annual production Sales price Variable production cost per unit Direct material Direct labor Manufacturing overhead Fored production costs PAUSE QUIZ 510 3 $25 per unit $150.000 each year: $3 per unitat 50,000 units of apter 5 PowerPoint $1 per unit Variable selling and administrative...
14 15 16 17 18 Fill in the blanks. Use the following data to determine the contribution margin ratio. The apply thi...
14 15 16 17 18 Fill in the blanks. Use the following data to determine the contribution margin ratio. The apply this ratio to determine break even point in sales dollars: Sales revenue per unit $20 Variable cost per unit $12. Contribution margin per unit Contribution margin ratio % Fixed Costs 524,000 Break even point in sales dollars Edmonds, Edmonds, Tsay and Olds (2006). Fundamental Managerial Accounting Concepts, 3e. McGraw Hill, Irwin. New York, NY. Previous | Skip | Save...
12 13 10 11 8 5 6 3 17 18 16 15 14 19 Fill in the blanks. Determine the contribution margin per unit based on the f...
12 13 10 11 8 5 6 3 17 18 16 15 14 19 Fill in the blanks. Determine the contribution margin per unit based on the following information, and use it to calculate the break-even point in units: Sales revenue per unit S36 Variable Cost per unit S24 Contribution margin per unit Fixed Advertising Costs S60,000 Break even in units Edmonds, Edmonds, Tsay and Olds (2006). Fundamental Managerial Accounting Concepts, 3e. McGraw Hill, Irwin. New York, NY Previous Skip...
8 9 3 2 5 6 7 10 11 12 13 Total Q 15 14 16...
8 9 3 2 5 6 7 10 11 12 13 Total Q 15 14 16 17 18 19 Answer Unanswe Fill in the blanks. Time Calculate the contribution margin ratio, and apply this to determine sales dollars required to achieve a target profit of $12,500: 00 Hours Sales revenue per unit $50 Varlable cost per unit S25 PAUSE QUD Contribution margin per unit Contribution margin ratio % Total fixed costs $10,000 Break even in sales dollars c Previous Skip...
Consider each of the following situations independently. Fill in the blanks with the appropriate information. 2. Total...
Consider each of the following situations independently. Fill in the blanks with the appropriate information. 2. Total Sales Number of Units Sold Selling Price per Unit Variable Cost Per Unit Total Fixed Costs Total Contribution Margin Net Income/ (Loss) 78,000 $62.00 $1,876,543 $1,266,857
Consider each of the following situations independently. Fill in the blanks with the appropriate information. 3. Total...
Consider each of the following situations independently. Fill in the blanks with the appropriate information. 3. Total Variable Cost Number of Units Sold Contribution Margin Percentage Contribution Margin per Unit Total Fixed Costs Selling Price per Unit Net Income/ (Loss) $247,500 $195.00 $1,050,000 ($172,500)
i am having trouble with these fill in the blanks osts . indirect prin pena.rs Ex:...
i am having trouble with these fill in the blanks
osts . indirect prin pena.rs Ex: supplies, Inventory cost, sales commissions Varble cost percentage per-unit variable cost divided by selling price, or total variable costs divided by total sales Accounting 2220 Quiz #1 Due: Friday, February 7, 2020 in Class Name Class Time Problem: Consider each of the following situations independently. Fill in the banks with the appropriate information Variable Cost Selling Price per Unit $222.00 Number of Units Sold...
8 134,400 A company produces a product for sale at $24 per unit. Total fixed costs...
8 134,400 A company produces a product for sale at $24 per unit. Total fixed costs are $48,000 and variable costs per unit are $12. The number of units to be produced and sold to obtain a $14,400 net income when the income tax rate is 25% would be: $12 lunit A 1,000 B 7.500 67,200 C. 3,000 FC 42,000 3,750 Vc/unit 12 5,600 67,200 48,000 19,200, x 25% 14400 9 For the current period, Kelly Corporation has a margin...
please fill out the rest of a, b, and c Variable and Absorption Costing Summarized data...
please fill out the rest of a, b, and c
Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (75,000 units) $6,000,000 Production costs (80,000 units) Direct material 1,760,000 Direct labor 1,440,000 Manufacturing overhead: Variable 1,088,000 Fixed 640,000 Operating expenses: Variable 336,000 Fixed 480,000 Depreciation on equipment 120,000 Real estate taxes 36,000 Personal property taxes (inventory & equipment) 57,600 Personnel department expenses 60,000 a. Prepare an income statement...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 11,000 $ 15 $ 1 $ 1 $21,000 $13,000 $12,000 $23,000 $87,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. The Alpine House, Inc., is a large retailer of...
14 15 16 17 18 19 Answered Unanswere Fill in the blanks. Time Based on the following information, prepare a contribution margin income statement assuming the company uses variable costing. 00 50.000 units 540 per unit Annual production Sales price Variable production cost per unit Direct material Direct labor Manufacturing overhead Fored production costs PAUSE QUIZ 510 3 $25 per unit $150.000 each year: $3 per unitat 50,000 units of apter 5 PowerPoint $1 per unit Variable selling and administrative...
14 15 16 17 18 Fill in the blanks. Use the following data to determine the contribution margin ratio. The apply this ratio to determine break even point in sales dollars: Sales revenue per unit $20 Variable cost per unit $12. Contribution margin per unit Contribution margin ratio % Fixed Costs 524,000 Break even point in sales dollars Edmonds, Edmonds, Tsay and Olds (2006). Fundamental Managerial Accounting Concepts, 3e. McGraw Hill, Irwin. New York, NY. Previous | Skip | Save...
12 13 10 11 8 5 6 3 17 18 16 15 14 19 Fill in the blanks. Determine the contribution margin per unit based on the following information, and use it to calculate the break-even point in units: Sales revenue per unit S36 Variable Cost per unit S24 Contribution margin per unit Fixed Advertising Costs S60,000 Break even in units Edmonds, Edmonds, Tsay and Olds (2006). Fundamental Managerial Accounting Concepts, 3e. McGraw Hill, Irwin. New York, NY Previous Skip...
8 9 3 2 5 6 7 10 11 12 13 Total Q 15 14 16 17 18 19 Answer Unanswe Fill in the blanks. Time Calculate the contribution margin ratio, and apply this to determine sales dollars required to achieve a target profit of $12,500: 00 Hours Sales revenue per unit $50 Varlable cost per unit S25 PAUSE QUD Contribution margin per unit Contribution margin ratio % Total fixed costs $10,000 Break even in sales dollars c Previous Skip...
i am having trouble with these fill in the blanks
osts . indirect prin pena.rs Ex: supplies, Inventory cost, sales commissions Varble cost percentage per-unit variable cost divided by selling price, or total variable costs divided by total sales Accounting 2220 Quiz #1 Due: Friday, February 7, 2020 in Class Name Class Time Problem: Consider each of the following situations independently. Fill in the banks with the appropriate information Variable Cost Selling Price per Unit $222.00 Number of Units Sold...
8 134,400 A company produces a product for sale at $24 per unit. Total fixed costs are $48,000 and variable costs per unit are $12. The number of units to be produced and sold to obtain a $14,400 net income when the income tax rate is 25% would be: $12 lunit A 1,000 B 7.500 67,200 C. 3,000 FC 42,000 3,750 Vc/unit 12 5,600 67,200 48,000 19,200, x 25% 14400 9 For the current period, Kelly Corporation has a margin...
please fill out the rest of a, b, and c
Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (75,000 units) $6,000,000 Production costs (80,000 units) Direct material 1,760,000 Direct labor 1,440,000 Manufacturing overhead: Variable 1,088,000 Fixed 640,000 Operating expenses: Variable 336,000 Fixed 480,000 Depreciation on equipment 120,000 Real estate taxes 36,000 Personal property taxes (inventory & equipment) 57,600 Personnel department expenses 60,000 a. Prepare an income statement...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 11,000 $ 15 $ 1 $ 1 $21,000 $13,000 $12,000 $23,000 $87,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. The Alpine House, Inc., is a large retailer of...
Most questions answered within 3 hours.
-
20% of all customers subscribe to phone service.
70% of all customers subscribe to internet service....
asked 1 minute ago -
Write a program to solve the Josephus problem, with the following
modification:
Sample Input:
./a.out n...
asked 2 hours ago -
At the start of a CD it is spinning at a rate of 525 rpm
(revolutions...
asked 3 hours ago -
4. Without doing any calculations, predict whether the observed
∆T would increase, decrease or remain the...
asked 4 hours ago -
Based on the range, which of the following sets of scores has
the greatest variability? 3,...
asked 5 hours ago -
Ripples in a pond travel at a velocity of 3 m/s with one peak
passing a...
asked 5 hours ago -
A man stands on the roof of a building of height 13.0 mm and
throws a...
asked 5 hours ago -
The extent to which assets are financed by borrowed funds and
other liabilities is indicated by:...
asked 6 hours ago -
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 6 hours ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 6 hours ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 7 hours ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 7 hours ago