1 | |||
Traditional Income Statement | |||
Sales | 199500 | =57*3500 | |
Cost of goods sold | 85899 | =57*1507 | |
Gross Margin | 113601 | ||
Selling and Administrative expenses: | |||
Selling expenses: | |||
Advertising | 943 | ||
Sales salaries and commissions | 12782 | =4802+(199500*4%) | |
Delivery of pianos | 3534 | =57*62 | |
Utilities | 662 | ||
Depreciation of sales facilities | 5008 | ||
Total selling expenses | 22929 | ||
Administrative expenses: | |||
Executive salaries | 13529 | ||
Insurance | 714 | ||
Clerical | 4703 | =2537+(38*57) | |
Depreciation of office equipment | 874 | ||
Total Administrative expenses | 19820 | ||
Total Selling and Administrative expenses | 42749 | ||
Net operating income | 70852 | ||
2 | |||
Contribution format Income Statement | |||
Total | Per Piano | ||
Sales | 199500 | 3500 | |
Variable expenses: | |||
Sales salaries and commissions | 7980 | 140 | |
Delivery of pianos | 3534 | 62 | |
Clerical | 2166 | 38 | |
Cost of goods sold | 85899 | 1507 | |
Total Variable expenses | 99579 | 1747 | |
Contribution margin | 99921 | 1753 | |
Fixed expenses: | |||
Advertising | 943 | ||
Sales salaries and commissions | 4802 | ||
Utilities | 662 | ||
Depreciation of office equipment | 874 | ||
Depreciation of sales facilities | 5008 | ||
Executive salaries | 13529 | ||
Insurance | 714 | ||
Clerical | 2537 | ||
Total Fixed expenses | 29069 | ||
Net operating income | 70852 |
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,507 per...
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...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,504 per unit and then sells them to retail customers for an average price of $2.400 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 $969 per month $4,795 per month, plus 5% of sales $57 per piano sold $640 per month...
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%...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,500 per unit and then sells them to retail customers for an average price of $2,000 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 $966 per month $4,804 per month, plus 5%...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,496 per unit and then sells them to retail customers for an average price of $3,100 each. The company's selling and administrative costs for a typical month are presented below: Costs Selling: Cost Formula Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities $944 per month 4,818 per month, plus 4% of sales $62 per piano sold $658 per month...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1.483 per unit and then sells them to retail customers for an average price of $2,600 esch. 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 $953 per month $4,813 per month, plus 4% of sales $62 per piano sold...
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 $3,200 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 equipnent $957 per month $4,773 per month, plus 5%...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,502 per unit and then sells them to retail customers for an average price of $3,000 each. The company's selling and administrative costs for a typical month are presented below: Dints Cost Formula eBook 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 $953 per month $4,794 per month,...
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,504 per unit and then sells them to retail customers for an average price of $2,100 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 $968 per month $4,811 per month, plus 4% of sales $59 per piano sold $666 per month...