1.
Marwick's Pianos
Inc. Traditional Income Statement For the month ended August 31 |
||
$ | $ | |
Sales Revenue | 125,000 | |
Cost of Goods Sold | 98,000 | |
Gross Profit | 27,000 | |
Selling and Administrative Expenses | ||
Selling Expenses | ||
Advertising | 700 | |
Sales Salaries and Commissions | 10,950 | |
Delivery Expenses | 1,200 | |
Utilities | 350 | |
Depreciation of Sales Facilities | 800 | |
Total Selling Expenses | 14,000 | |
Administrative Expenses | ||
Executive Salaries | 2,500 | |
Insurance | 400 | |
Clerical | 1,800 | |
Depreciation of Office Equipment | 300 | |
Total Administrative Expenses | 5,000 | |
Total Selling and Administrative Expenses | 19,000 | |
Net Operating Income | $ 8,000 |
2.
Marwick's Pianos
Inc. Contribution Margin Income Statement For the month ended August 31 |
||
$ | $ | |
Sales | 125,000 | |
Less: Variable Expenses | ||
Cost of Goods Sold | 98,000 | |
Sales Commission Expense | 10,000 | |
Delivery Expense | 1,200 | |
Clerical | 800 | |
Total Variable Expenses | 110,000 | |
Contribution Margin | 15,000 | |
Fixed Expenses | ||
Advertising Expense | 700 | |
Sales Salaries Expense | 950 | |
Utilities Expense | 350 | |
Salaries Expense | 3,500 | |
Insurance Expense | 400 | |
Depreciation Expense: Sales Facilities | 800 | |
Depreciation Expense: Office Equipment | 300 | |
Total Fixed Expenses | 7,000 | |
Net Operating Income | $ 8,000 |
Long problem please finish whole thing Marwick's Pianos, Inc. Traditional Income Statement For the Month of...
Problem 1-21 Traditional and Contribution Format Income Statements (LO1-6) 1.25 points Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,507 per unit and then sells them to retail customers for an average price of $2,200 each. The company's selling and administrative costs for a typical month are presented below: eBook Print Costs Cost Formula Selling: Advertising $953 per month Sales salaries and commissions $4,798 per month, plus 5% of sales Delivery of pianos to...
Problem 1-21 Traditional and Contribution Format Income Statements (LO1-6) Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $2,450 per unit and then sells them to retail customers for an average price of $3,125 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...
Problem 1-21 Traditional and Contribution Format Income Statements [LO1-6] Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,512 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 $951 per month $4,780 per month, plus 6%...
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...
Check my work Problem 1-21 Traditional and Contribution Format Income Statements [LO1-6] points Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,507 per unit and then sells them to retail customers for an average price of $2,200 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula eBook Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries...
cannot solve this Problem 1-21 Traditional and Contribution Format Income Statements (L01-6] Marwick's Pianos, Inc., purchases planos from a large manufacturer for an average cost of $1,481 per unit and then sells them to retail customers for an average price of $2,700 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...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,495 per unit and then sells them to retail customers for an average price of $2,500 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 $939 per month $4,777 per month, plus 6%...
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 $2,600 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 $933 per month $ 4,810 per month, plus...
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 $1,511 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%...