Bolka Corporation, a merchandising company, reported the following results for October. $ 411,000 $ 174,300 $ 26,200 Sales Cost of goods sold (all variable) Total variable selling expense Total fixed selling expense Total variable administrative expense Total fixed administrative expense The contribution margin for October is: $ 23,800 $ 15,700 $ 38,700

Bolka Corporation, a merchandising company, reported the following results for October. $ 411,000 $ 174,300 $ 26,200 Sales Cost of goods sold (all variable) Total variable selling expense Total fixed selling expense Total variable administrative expense Total fixed administrative expense The contribution margin for October is: $ 23,800 $ 15,700 $ 38,700

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

Haresh
Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced $ 172 0 9,700 9,300 400 Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the net operating income (loss) for the month under variable costing? $6,000 $11,600 $17,600 ($40,000) $ 33 $75 $21 $ 25 $ 145,500 $ 10,300
Income Statements Segmented by TerritoryScript, Inc., has two product lines. The September income statements of each product line and the company are as follows: SCRIPT, INC.Product Line and Company Income StatementsFor Month of September Pens Pencils Total Sales $25,000 $30,000 $55,000 Less variable expenses (10,000) (12,000) (22,000) Contribution margin 15,000 18,000 33,000 Less direct fixed expenses (8,000) (6,000) (14,000) Product margin $7,000 $12,000 $19,000 Less common fixed expenses (6,000) Net income $13,000 Pens and pencils are sold in two territories, Florida and Alabama, as follows: Florida Alabama Pen sales $11,000 $14,000 Pencil sales 13,000 17,000 Total sales $24,000 $31,000 The preceding common fixed expenses are traceable to each territory as follows: Florida fixed expenses $2,000 Alabama fixed expenses 3,000 Home office administration fixed expenses 1,000 Total common fixed expenses $6,000 The…
XYZ, Inc. reports the following information for November: Sales Revenue $800,000 Variable Cost of Goods Sold 110,000 Fixed Cost of Goods Sold 45,000 Variable Selling and Administrative Costs 100,000 Fixed Selling and Administrative Costs 70,000 Calculate the gross profit for November using absorption (traditional) costing. Question 18Select one: A. $ 730,000 B. $690,000 C. $700,000 D. $645,000
The following information is available about the operations of the Delaware Publishing Company for the month of January. Find the missing values. Revenue (total sales) Fixed costs Variable costs Total costs Net Income $28,400 $85,700 $29,200
McDaniel Inc., a company that produces and sells a single product, has provided its contribution format income statement for January. Sales (4,200 units) Variable expenses Contribution margin H Fixed expenses Net operating income $54,600 $59,800 $69,400 $ O $13,362 $ 155,400 100,800 If the company sells 4,600 units, its total contribution margin should be closest to: 54,600 42,400 12,200
5
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…
Need help with this question
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
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.
Philadelphia Company has the following information for March: Sales $484,795 Variable cost of goods sold 205,574 Fixed manufacturing costs 76,273 Variable selling and administrative expenses 52,568 Fixed selling and administrating expenses 35,254 a. Determine the March manufacturing margin.$fill in the blank 1 b. Determine the March contribution margin.$fill in the blank 2 c. Determine the March income from operations for Philadelphia Company.$fill in the blank 3