2.Question 5 pts Sees Corp., a merchandising company, reported the following results for July. Cost of Goods Sold 276,213 Fixed selling and administrative expense 55,665 nly Do Sales Revenue 541,967 dollar sign sign or the calc Variable selling and administrative expense 56,728 This question is independent of all other questions. Please use only the information in this question to calculate the answer. Based on the information provided above, calculate the Contribution Margin for July. Cost of Goods Sold is a variable cost in this company. Enter only the amount of the Contribution Margin in the box provided below. Enter the amount only. Do not enter letters, words, or the calculation. Variable setting and administrative expense

2.Question 5 pts Sees Corp., a merchandising company, reported the following results for July. Cost of Goods Sold 276,213 Fixed selling and administrative expense 55,665 nly Do Sales Revenue 541,967 dollar sign sign or the calc Variable selling and administrative expense 56,728 This question is independent of all other questions. Please use only the information in this question to calculate the answer. Based on the information provided above, calculate the Contribution Margin for July. Cost of Goods Sold is a variable cost in this company. Enter only the amount of the Contribution Margin in the box provided below. Enter the amount only. Do not enter letters, words, or the calculation. Variable setting and administrative expense

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Given the information below find labour cost percentage for the month of June (do not include % sign) Sales Food Beverage Total Sales Cost of Sales Food Guest Hotel Inc. Income Statement for the period ending June 30, 2021 Beverage Total cost of goods sold Gross Profit Controllable Expenses Salaries & Wages Occupancy Office & General Utilities Transportation Kitchen supplies Professional fees Advertising Employee Insurance Vehicle Total Controllable Expenses Net Profit/Loss 186,665 73,010 54,214 25,881 97,996 27,546 10,969 9.656 6,488 6.547 6.869 8,199 10,288 4,665
eBook Show Me How Calculator E Print Item Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for March: Cost of direct materials used in production $65,000 Direct labor 75,000 Factory overhead 27,000 Work in process inventory, March 1 54,000 Work in process inventory, March 31 41,990 Finished goods inventory, March 1 24,000 Finished goods inventory, March 31 16,000 a. For March, determine the cost of goods manufactured. く Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3 Company Statement of Cost of Goods Manufactured KSHEET.A... 24 $4 Total manufacturing costs incurred during March Total manufacturing costs NKSHEET.A... LANKSHEET Cost of goods manufactured CEL.ALGO Check My Work 5 more Check My Work uses remaining. D items : 30% All work saved. MacBook Pro 20 F1 F2 F3 F4 F5 F6 F7 F8 %23 LC
Provide correct solution
Cherokee Incorporated 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 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Amount 11,000 $ 16 $ 1 $ 3 $ 21,000 $ 15,000 $ 10,000 $ 24,000 $ 87,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Selling and administrative expenses:
Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint. Not all information given is needed for the solution. 0 Finished goods inventory, ending General and administrative expenses Accounts receivable Finished goods inventory, beginning Cost of goods manufactured Selling expenses Cash Land Sales. Equipment Cost of goods sold $ 17,900 15,900 19,900 20,900 41,900 13,900 56,900 29,900 95,800 2,900 REX MANUFACTURING Income Statement For Year Ended December 31
The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required 1 Required 2 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit? Amount $ 1,540,000 $ 440 $ 48 Complete this question by entering your answers in the tabs below. Required 3 What was the contribution margin per unit? Note: Round your final answer to nearest whole dollar. Contribution margin per unit $ 17 $ 130,000 $ 115,000 $ 65,000 $ 120,000 $ 305,000
1
Please do not give solution in image format thanku
please answer completely and correctly in text form with all working describe each and every step with explanation computation formula
Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ 70,000 Less cost of goods sold ($58 per unit) 40,600 Gross margin 29,400 Less operating costs: Commissions expense ($6 per unit) $ 4,200 Salaries expense 7,900 Advertising expense 5,900 Shipping expense ($1 per unit) 700 18,700 Operating income $ 10,700 Per Unit select an income statement item $enter a dollar amount $enter a dollar amount select an opening name for section one : select an income statement item $enter a dollar amount enter a dollar amount select an income statement item…
Aidel Inc., a merchandising company, reported the following results for September. Cost of goods sold 205,837 Fixed selling and administrative expense 41,331 Variable selling and administrative expense, 86,269 Sales revenue 563,800 This question is independent of all other questions. Please use only the information in this question to calculate the answer. Based on the information provided above, calculate break – even in dollars. Cost of goods sold is a variable cost in this company. Enter only the amount for the break – even in dollars in the box provided below ( rounded to a whole number, based on general rounding rules). Enter the amount only. Do not enter letters, words, dollar signs or the calculation.
Cost of Goods Sold, Profit Margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured Selling expenses Administrative expenses Sales Finished goods inventory, January 1 Finished goods inventory, January 31 $4,490,000 530,000 340,000 6,600,000 880,000 775,000 (a) For the month ended January 31, determine Bandera's cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 Finished goods inventory, January 1 Cost of goods manufactured Cost of finished goods available for sale Less finished goods inventory, January 31 Cost of goods sold