Homework Answers
C. cost of goods sold, including fixed indirect manufacturing overhead.
Gross margin = Sales - Cost of goods sold - Fixed manufacturing overhead
Add Answer to:
5 The term "gross margin" for a manufacturing firm refers to the excess of sales over...
5 Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative costs Fixed selling...
5 Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative costs Fixed selling and administrative costs $274,000 93,000 67,000 38,000 33,000 What is this company's contribution margin? Multiple Choice o $43.000 $76.000 5114000 $143.000 6 Sales revenue (1,700 units * $19.20 per unit) Cost of goods sold (variable; 1,700 units x $9.20 per unit) Cost of goods sold (fixed) Gross margin Administrative salaries Depreciation Supplies (1,700 units * $1.20 per unit) Net income $ 32,640 (15,640) (3,200)...
Question 21 (1 point) Operating income reported under absorption costing will generally exceed operating income reported...
Question 21 (1 point) Operating income reported under absorption costing will generally exceed operating income reported under variable costing for a given period in which of the following cases? If the variable manufacturing overhead exceeds the fixed manufacturing overhead. If production exceeds sales for that period. None of the options provided are correct. If production equals sales for that period. If sales exceed production for that period. w wwwwwwwwwwwwwwwwwwww wwwwwww Question 22 (1 point) The term "gross margin" for a...
omheducation.com 2 and 3) Exercise 2-54 (Algo) Gross Margin and Contribution Margin Income Statem The following...
omheducation.com 2 and 3) Exercise 2-54 (Algo) Gross Margin and Contribution Margin Income Statem The following data are from the accounting records of Niles Castings for year 2 87,009 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 60,000 32,eee 11,000 43,000 16,500 36,000 ok ences Required: a. Prepare a gross margin income statement. b....
LIT Submit For Quarter Ended June 38 Sales Cost of goods sold Gross margin Selling and...
LIT Submit For Quarter Ended June 38 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income $930,000 655,000 275,000 $105,000 114,000 219,000 $ 56,000 On average, a book sells for $60. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed. The contribution margin for Alexander's Bookstore for the second quarter is: Multiple Choice $769,700 $150.300...
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and...
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 35 per unit 225,000 190 per unit 20 per unit 30 per unit $ 185,000 $ 5,000 $ 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a...
QS 19-5 Absorption costing and gross margin LO P2 Ramort Company reports the following cost data...
QS 19-5 Absorption costing and gross margin LO P2 Ramort Company reports the following cost data for its single product. The company regularly sells 20,000 units of its product at a price of $60 per unit. 10 per unit 12 per unit $ Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead per year Selling and administrative costs for the year Variable Fixed Normal production level (in units) 3 per unit $40,000 $ 2 per unit...
5. (20 points) Aspen Manufacturing Company sells its products for $35 each. The current production level is 50,000...
5. (20 points) Aspen Manufacturing Company sells its products for $35 each. The current production level is 50,000 units, although only 40,000 units are anticipated to be sold. Unit manufacturing costs are: Direct materials $7.00 Direct manufacturing labor $8.00 Variable manufacturing costs $5.00 Total fixed manufacturing costs $180,000 Marketing expenses $3.00 per unit, plus $100,000 per year Complete the income statements formatted below: a. Absorption-costing income statement: Sales Cost of goods sold Gross margin Marketing: Variable Fixed Operating income b....
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and...
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 35 per unit 215,000 205 per unit 19 per unit 34 per unit $ 205,000 $ 5,000 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a gross...
Hel Contribution margin is: Multiple Choice Sales less cost of goods sold Sales less variable production,...
Hel Contribution margin is: Multiple Choice Sales less cost of goods sold Sales less variable production, variable selling, and variable administrative expenses Sales less variable production expense. Sales less all variable and fixed expenses. < Prex 40,10 İİİ Next > MacBook Air 名0 0
Pedregon Corporation has provided the following information: Cost per Period Cost per Unit $6.95 $3.50 $1.75...
Pedregon Corporation has provided the following information: Cost per Period Cost per Unit $6.95 $3.50 $1.75 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense $19,800 $0.40 $0.50 $ 7,700 If 4,500 units are sold, the total variable cost is closest to: Multiple Choice O $72,900 O $80,550 O $58.950 O $54.900 Dake Corporation's relevant range of activity is 3.100 units to 6.500 units. When it produces and sells...
5 Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative costs Fixed selling and administrative costs $274,000 93,000 67,000 38,000 33,000 What is this company's contribution margin? Multiple Choice o $43.000 $76.000 5114000 $143.000 6 Sales revenue (1,700 units * $19.20 per unit) Cost of goods sold (variable; 1,700 units x $9.20 per unit) Cost of goods sold (fixed) Gross margin Administrative salaries Depreciation Supplies (1,700 units * $1.20 per unit) Net income $ 32,640 (15,640) (3,200)...
Question 21 (1 point) Operating income reported under absorption costing will generally exceed operating income reported under variable costing for a given period in which of the following cases? If the variable manufacturing overhead exceeds the fixed manufacturing overhead. If production exceeds sales for that period. None of the options provided are correct. If production equals sales for that period. If sales exceed production for that period. w wwwwwwwwwwwwwwwwwwww wwwwwww Question 22 (1 point) The term "gross margin" for a...
omheducation.com 2 and 3) Exercise 2-54 (Algo) Gross Margin and Contribution Margin Income Statem The following data are from the accounting records of Niles Castings for year 2 87,009 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 60,000 32,eee 11,000 43,000 16,500 36,000 ok ences Required: a. Prepare a gross margin income statement. b....
LIT Submit For Quarter Ended June 38 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income $930,000 655,000 275,000 $105,000 114,000 219,000 $ 56,000 On average, a book sells for $60. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed. The contribution margin for Alexander's Bookstore for the second quarter is: Multiple Choice $769,700 $150.300...
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 35 per unit 225,000 190 per unit 20 per unit 30 per unit $ 185,000 $ 5,000 $ 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a...
QS 19-5 Absorption costing and gross margin LO P2 Ramort Company reports the following cost data for its single product. The company regularly sells 20,000 units of its product at a price of $60 per unit. 10 per unit 12 per unit $ Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead per year Selling and administrative costs for the year Variable Fixed Normal production level (in units) 3 per unit $40,000 $ 2 per unit...
5. (20 points) Aspen Manufacturing Company sells its products for $35 each. The current production level is 50,000 units, although only 40,000 units are anticipated to be sold. Unit manufacturing costs are: Direct materials $7.00 Direct manufacturing labor $8.00 Variable manufacturing costs $5.00 Total fixed manufacturing costs $180,000 Marketing expenses $3.00 per unit, plus $100,000 per year Complete the income statements formatted below: a. Absorption-costing income statement: Sales Cost of goods sold Gross margin Marketing: Variable Fixed Operating income b....
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 35 per unit 215,000 205 per unit 19 per unit 34 per unit $ 205,000 $ 5,000 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a gross...
Hel Contribution margin is: Multiple Choice Sales less cost of goods sold Sales less variable production, variable selling, and variable administrative expenses Sales less variable production expense. Sales less all variable and fixed expenses. < Prex 40,10 İİİ Next > MacBook Air 名0 0
Pedregon Corporation has provided the following information: Cost per Period Cost per Unit $6.95 $3.50 $1.75 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense $19,800 $0.40 $0.50 $ 7,700 If 4,500 units are sold, the total variable cost is closest to: Multiple Choice O $72,900 O $80,550 O $58.950 O $54.900 Dake Corporation's relevant range of activity is 3.100 units to 6.500 units. When it produces and sells...
Most questions answered within 3 hours.
-
The U.S. Department of Transportation, National Highway Traffic
Safety Administration, reported that 77% of all fatally...
asked 8 minutes ago -
For 1 through 11, create an expression using the relational
operators, the logical operators, and variable...
asked 21 minutes ago -
Remove all recursion from the following grammar:
S -> Aa | Bb
A -> Aa |...
asked 15 minutes ago -
The production budget for Manner Company shows units to be
produced as follows: July, 550; August,...
asked 25 minutes ago -
Your group is required to develop a comprehensive Business plan
that will be used as a...
asked 29 minutes ago -
a radio station transmits at 78.1 mhz. a hz is an inverse
second. how far apart...
asked 47 minutes ago -
Write the equilibrium expression for the dissociation in
water for CH5N, C2H5O2COOH, H3AsO4, KClO2, HC2H2ClO2.
asked 53 minutes ago -
In risk management, insurance is an example of:
Select one:
a. Risk avoidance
b. Risk deflection...
asked 55 minutes ago -
Wildhorse Company follows the practice of pricing its inventory
at the lower-of-cost-or-market, on an individual-item
basis....
asked 1 hour ago -
3. (10 pts) You grow a corn crop that yields 150 bushels ac-1,
with the following...
asked 1 hour ago -
7. The term Six Sigma refers to:
Select one:
a. The control limits established in a...
asked 1 hour ago -
For the following reaction: A(g) + 2 B(g) ⇌ 2 C(g) Calculate the
equilibrium constant K...
asked 1 hour ago