Cullumber Company makes 2 products, sleep masks and sleep socks. Additional information follows:Sleep Socks2,800$34,00010,004UnitsSalesVariable costsFixed costsNet incomeProfit per unitSleep MasksSleep Masks4,300$69,00038,98611,954$18,060Sleep Socks$4.20Compute the Contribution margin per unit. (Round answers to 2 decimal places, e.g. 15.25.)12,012$$11,984$4.28Contribution margin per unit

Variable costs are costs which changes with change in activity level. Contribution margin is excess…

Cullumber Company makes 2 products, sleep masks and sleep socks. Additional information tion follows: Units Sales Variable costs Fixed costs Net income Profit per unit Sleep Masks Sleep Masks Sleep Socks 4,300 $69,000 38,986 11,954 $18,060 $4.20 Sleep Socks 2,800 $34,000 10,004 12,012 $11.984 Compute the Contribution margin per unit. (Round answers to 2 decimal places, e.g. 15.25.) Contribution margin per unit $4.28

Cullumber Company makes 2 products, sleep masks and sleep socks. Additional information tion follows: Units Sales Variable costs Fixed costs Net income Profit per unit Sleep Masks Sleep Masks Sleep Socks 4,300 $69,000 38,986 11,954 $18,060 $4.20 Sleep Socks 2,800 $34,000 10,004 12,012 $11.984 Compute the Contribution margin per unit. (Round answers to 2 decimal places, e.g. 15.25.) Contribution margin per unit $4.28

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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Concept explainers

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.

Question

Cullumber Company makes 2 products, sleep masks and sleep socks. Additional information follows:
Sleep Socks
2,800
$34,000
10,004
Units
Sales
Variable costs
Fixed costs
Net income
Profit per unit
Sleep Masks
Sleep Masks
4,300
$69,000
38,986
11,954
$18,060
Sleep Socks
$4.20
Compute the Contribution margin per unit. (Round answers to 2 decimal places, e.g. 15.25.)
12,012
$
$11,984
$4.28
Contribution margin per unit

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