0:15Calip Corporation, a merchandising company, reported the following results forOctober:SalesCost of goods sold (all variable)Total variable selling expenseTotal fixed selling expenseTotal variable administrative expenseTotal fixed administrative expenseThe contribution margin for October is:$433,000$173,000$18,000$9,900$10,000$25,600

Contribution margin is the difference between sales revenue and total variable costs. Variable cost…

Answered: 0:15 Calip Corporation, a merchandising…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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ulcan Company's contribution format income statement for June is as follows: Vulcan Company Income Statement For the Month Ended June 30 Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 900,000 408,000 492,000 455,000 $ 37,000 Management is disappointed with the company's performance and is wondering what can be done to improve profits. By examining sales and cost records, you have determined the following: a. The company is divided into two sales territories-Northern and Southern. The Northern Territory recorded $400,000 in sales and $208,000 in variable expenses during June; the remaining sales and variable expenses were recorded in the Southern Territory. Fixed expenses of $164,000 and $125,000 are traceable to the Northern and Southern Territories, respectively. The rest of the fixed expenses are common to the two territories. b. The company is the exclusive distributor for two products-Paks and Tibs. Sales of Paks and Tibs totaled $150,000 and…
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Geneva Company reports the following information for July: Sales $ 762,000 Variable cost of goods sold 229,000 Fixed cost of goods sold 104,000 Calculate the contribution margin for July. Multiple Choice
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