Assume the following information for a merchandising company: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Fixed administrative expenses Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $ 30.00 $ 3.30 $ 2.80 $ 50,000 $ 24,000 $ 19,000 $ 340,000 What is the contribution margin? Multiple Choice $133,000 $249,000

Assume the following information for a merchandising company: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Fixed administrative expenses Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $ 30.00 $ 3.30 $ 2.80 $ 50,000 $ 24,000 $ 19,000 $ 340,000 What is the contribution margin? Multiple Choice $133,000 $249,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter7: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 29BEB: Sales Needed to Earn Target Income Chillmax Company plans to sell 3,500 pairs of shoes at 60 each in...

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Assume the following information for a merchandising company: Number of units sold 20,000 Selling price per unit Variable selling expense per unit Variable administrative expense per unit Fixed administrative expenses $ 30 $3.40 Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 2.40 $ 50,000 $24,000 $ 19,000 $340, 000 What is the contribution margin?
Assume the following information for a merchandising company: Number of units sold Selling price per unit. Variable selling expense per unit Variable administrative expense per unit Fixed administrative expenses Beginning merchandise inventory Ending merchandise inventory Merchandise purchases What is the amount of total variable expenses? 20,700 $ 30 $ 3 $2 $ 50,000 $ 24,000 $ 19,000 $ 341,000
Assume the following information for a merchandising company: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit$2 Fixed administrative expenses Beginning merchandise inventory Ending merchandise inventory Merchandise purchases What is the gross margin? O $155,000 O $260,000 O $255,000 O $265,000 20,000 $30 $3 $50,000 $24,000 $19,000 $340,000
Che Assume the following intormation for a merchandisıng company: $ 500,000 $ 25,000 $ 350,000 $ 50,000 $ 40,000 $ 5,000 Sales Variable selling expenses Cost of goods sold Fixed administrative expenses Fixed selling expenses Variable administrative expenses What is the company's contribution margin? Multiple Choice $145,000. $125,000. $120,000. $150,000.
Assume the following Information for a merchandising company: $ 473,000 $ 25,000 $ 350,000 $ 50,000 $ 40,000 $ 5,000 Sales Variable selling expenses Cost of goods sold Fixed administrative expenses Fixed selling expenses Variable administrative expenses What is the company's contribution margin? Multiple Cholce $93,000. $118,000. $98,000. $123,000.
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D Question 1 Examine the following income statement. What is the value of NMC? (Round your answer to the nearest dollar. Do not enter the dollar symbol.) Table 1. Hypothetical Income Statement Item Total Sales Revenue Cost of Goods Sold Parts & Materials $2,500,000 Direct Labor $1,000,000 Gross Profit Margin Marketing Expenses Salesforce Expenses $1,500,000 Sales Commissions $500,000 Trade and Media Advertising $300,000 Point-Of-Sale Materials $100,000 Coop Ad Allowances $500,000 Shipping Expenses $800,000 Manufacturing Overhead General & Administrative Expenses Administrative Overhead $250,000 Executive Salaries & Benefits $400,000 Operating Profit Dollar Amount $12,079,499 $3,500,000 $6,500,000 $3,700,000 $800,000 $650,000 $1,350,000
Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) Less cost of goods sold ($56 per unit) Gross margin Less operating costs: Commissions expense $7 per unit) $ 6.090 Salaries expense Advertising expense Shipping expense ($2 per unit. Operating income 7.800 6.000 $ A S 87.000 48,720 AREN 38,280 21.630 16.650
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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…
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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: