None Assume the following information for a merchandising company:Number of units soldSelling price per unitVariable selling expense per unitVariable administrative expense per unitFixed administrative expensesBeginning merchandise inventoryEnding merchandise inventoryMerchandise purchases20,000$ 30.00$ 3.30$ 2.80$ 50,000$ 24,000$ 19,000$ 340,000What is the contribution margin?Multiple Choice$133,000$249,000

Step 1:Contribution Margin is the mechanism to calculate the amount let after paying all variable…

Answered: Assume the following information for a…

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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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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