Quick answer of this accounting questions Calloway Manufacturing had the following amounts from its income statement:.Sales revenue (1,200 units): $120,000•Cost of goods sold-Fixed: $25,000Cost of goods sold-Variable: $24,000Selling expenses-Fixed: $8,500Selling expenses-Variable: $9,600Administrative expenses-Fixed: $7,200⚫ Administrative expenses-Variable: $10,800How much is Calloway's contribution margin?a. $60,000b. $75,600c. $85,500d. $44,400

Step 1: Definition of Contribution Margin Contribution margin is the amount of revenue remaining…

Answered: Calloway Manufacturing had the…

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

Please help me I want answer
Answer this
Ans
Blossom Company had the following amounts from its income statement: Sales revenue (800 units) $64000 Cost of goods sold - fixed 16000 Cost of goods sold - variable 14800 Selling expenses - fixed 5600 Selling expenses - variable 4800 Administrative expenses - fixed 4000 Administrative expenses - variable 6000 How much is Blossom's contribution margin? O $49200. O $38400. $33200. O $12800.
Starwise Company had the following amounts from its income statement: $100,000 Sales revenue 32,000 Cost of goods sold -fixed 25,000 Cost of goods sold -variable 9,000 Selling expenses - fixed Selling expenses - variable 11,000 Administrative expenses - fixed 12,000 Administrative expenses - variable 8,000 How much is Starwise's contribution margin? $56,000. O$3,000. O $75,000. $43,000.
The following information is available for Wade Corp.: Sales $550,000 Total fixed expenses $150,000 Cost of goods sold 390,000 Total variable expenses 360,000 A CVP income statement would report gross profit of $160,000. contribution margin of $400,000. gross profit of $190,000. contribution margin of $190,000.
Hinge Manufacturing’s cost of goods sold is $420,000 variable and $240,000 fixed. The company’s selling and administrative expenses are $300,000 variable and $360,000 fixed. If the company’s sales is $1,580,000, what is its net income? Group of answer choices $860,000 $920,000 $260,000 $980,000
The following operating income data about the performance of the two product lines: Sales revenue. Cost of goods sold: Variable.. Fixed... Total cost of goods sold. Gross profit.. Marketing and administrative expenses: Variable.. Fixed.. Total marketing and administrative expenses Operating income (loss).... Product Line Industrial Systems $330,000 Household Systems Total $360,000 $690,000 $ 35,000 $44,000 $79,000 250,000 67,000 317,000 $285,000 $ 45,000 Copyright © 2013 Pearson Education, Inc., publishing as Prentice Hall $111,000 $396,000 $249,000 $294,000 62,000 39,000 $101,000 $99,000 $200,000 $ (56,000) $150,000 $94,000 76,000 138,000 23,000 62,000 The product line is losing money so with a commission study it will determine whether the company should discontinue the product line. Company accountants estimate that discontinuing, will decrease fixed cost of goods sold by $81,000 and decrease fixed marketing and administrative expenses by $14,000. Production engineers believe that…
Can you please answer the question
Hernando Manufacturing, Inc. reported the following information for the year: Number of Units Produced $152,000 Number of Units Sold 62,000 Cost of Goods Manufactured 268,000 Cost of Goods Sold 52,900 Sales Revenue 130,000 Gross Profit 72,940 Operating Expense 727,000 What was the unit product cost? (Round your answer to the nearest cent.) A. $1.76 B. $0.85 C. $0.86 D. $4.32
Sales revenue (2,000 units * $50 per unit) $100,000 Cost of goods sold: Variable (2,000 units * $15 per unit) (30,000) Fixed (11,000) Gross Margin 59,000 Administrative Salaries (20,000) Sales office Depreciation (9,000) Sales supplies (2,000 units *$5 per unit) (10,000) Net Income $20,000 Using the income statement above, if sales increased by 10%, (1) What percent will net income increase? (2) How much will the new net income be?
A recent income statement of Company A reported the following data: Units sold 8,000Sales revenue ₱7,200,000Variable costs ₱4,000,000Fixed costs ₱1,600,000 If the company desired to earn a target net profit of ₱480,000, it would have to sell:A. 1,200 units. B. 2,800 units. C. 4,000 units. D. 5,200 units.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS