Cullumber Inc. had sales of $2,330,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $959,000 $444,000 Selling expenses 96,000 52,000 Administrative expenses 120,000 102,000
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- Refer to RE22-2. Assume Heller Company had sales revenue of 510,000 in 2019 and 650,000 in 2020. Prepare Hellers partial income statements (through gross profit) for 2019 and 2020. RE22-2 Heller Company began operations in 2019 and used the LIFO method to compute its 300,000 cost of goods sold for that year. At the beginning of 2020, Heller changed to the FIFO method. Heller determined that its cost of goods sold under FIFO would have been 250,000 in 2019. For 2020, Hellers cost of goods sold under FIFO was 360,000, while it would have been 410,000 under LIFO. Heller is subject to a 21% income tax rate. Compute the cumulative effect of the retrospective adjustment on prior years income (net of taxes) that Heller would report on its retained earnings statement for 2020.Blossom Inc. had sales of $2,300,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $936,000 $473,000 Selling expenses 119,000 71,000 Administrative expenses 116,000 120,000 Prepare a CVP income statement for the quarter ended March 31, 2020. BLOSSOM INC. CVP Income Statement For the Quarter Ended March 31, 2020Wildhorse Inc. had sales of $2,300,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $966,000 $471,000 Selling expenses 109,000 57,000 Administrative expenses 93,000 107,000 Prepare a CVP income statement for the quarter ended March 31, 2020. WILDHORSE INC. CVP Income Statement For the Quarter Ended March 31, 2020 > $ $
- Ivanhoe Inc. had sales of $2,300,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $940,000 $464,000 Selling expenses 74,000 54,000 Administrative expenses 96,000 145,000 Prepare a CVP income statement for the quarter ended March 31, 2020. IVANHOE INC.CVP Income StatementFor the Quarter Ended March 31, 2020 Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $ Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross…Dineshbhaiprovide answer please give the correct answer
- Blossom Manufacturing Ltd. had sales for January 2022 of $1,025,000. The units sold were 20.500, and the expenses for January 2022 were as follows: Cost of goods sold Selling expenses Administrative expenses Show Transcribed Text Variable $207.050 56.375 29,725 Fixed $123,000 28,700 35,875 10 C Blossom Manufacturing Inc. CVP Income Statement Total Per unitaccnewVishu
- PKEASE ANSWER ASAP ......Ivanhoe Inc. had sales of $2,410,000 for the first quarter of 2022 (it sold 241,000 units). In making the sales, the company incurred the following costs and expenses. Current Attempt in Progress Variable Fixed Cost of goods sold $974,900 $466,000 Selling expenses 109,000 72,000 Administrative expenses 97,000 106,000 Prepare a CVP income statement for the quarter ended March 31, 2022. (Round per unit answers to 2 decimal places, e.g. 15.25.) IVANHOE INC. CVP Income Statement Total SA $ > > $ $ SA $ Per Unit Percent of Sales % 20 % % 20Pharoah Inc. had sales of $2,320,000 for the first quarter of 2022 (it sold 232,000 units). In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable V $841,000 86,000 117,000 $ Fixed $488,000 Prepare a CVP income statement for the quarter ended March 31, 2022. (Round per unit answers to 2 decimal places, e.g. 15.25.) $ 47,000 144,000 Total PHAROAH INC. CVP Income Statement $ $ Per Unit Percent of Sales % % %