Cambridge Company reports the following information for June: (Click the icon to view the amounts.) Calculate the contribution margin and operating income for June using variable costing. Begin by selecting the labels and entering the amounts to compute the contribution margin. Then, select the labels and enter the amounts to compute the operating income. Variable Costing Contribution Margin Data table Net Sales Revenue Variable Cost of Goods Sold Fixed Cost of Goods Sold Variable Selling and Administrative Costs Fixed Selling and Administrative Costs Print Done $ 740,000 235,000 182,000 172,000 73,000 - X
Cambridge Company reports the following information for June: (Click the icon to view the amounts.) Calculate the contribution margin and operating income for June using variable costing. Begin by selecting the labels and entering the amounts to compute the contribution margin. Then, select the labels and enter the amounts to compute the operating income. Variable Costing Contribution Margin Data table Net Sales Revenue Variable Cost of Goods Sold Fixed Cost of Goods Sold Variable Selling and Administrative Costs Fixed Selling and Administrative Costs Print Done $ 740,000 235,000 182,000 172,000 73,000 - X
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
Chapter3: Cost Behavior And Cost Forecasting
Section: Chapter Questions
Problem 31BEB: Inventory Valuation under Variable Costing Refer to the data for Pelham Company on the previous...
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At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.
Accounts Receivable
The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.
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Transcribed Image Text:Cambridge Company reports the following information for June:
(Click the icon to view the amounts.)
Calculate the contribution margin and operating income for June using variable costing.
Begin by selecting the labels and entering the amounts to compute the contribution margin. Then, select the labels and enter the amounts to compute the operating income.
Variable Costing
- X
Contribution Margin
Data table
Net Sales Revenue
Variable Cost of Goods Sold
Fixed Cost of Goods Sold
Variable Selling and Administrative Costs
Fixed Selling and Administrative Costs
Print
Done
$
740,000
235,000
182,000
172,000
73,000
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