3Columbia Corporation produces a single product. The company's variable costing income statement for November appears below:Columbia CorporationIncome StatementFor the Month ended November 30McSales ($21 per unit)Variable expenses:Variable cost of goods soldVariable selling expenseTotal variable expensesContribution marginFixed expenses:ManufacturingSelling and administrativeTotal fixed expensesNet operating incomeMultiple ChoiceO$ 854,700During November, 35,200 units were manufactured and 8,750 units were in beginning inventory. Variable production costs per unit, total fixedmanufacturing expenses, and the number of units produced were the same in prior months.Under absorption costing, for November the company would report a:$11,000 profit488,400122, 100610,500244,200140,80070,400211,200$ 33,000

The absorption costing include both the variable and fixed manufacturing costs in unit product cost.…

Answered: $21 per unit) Le expenses: ble cost of…

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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Number of units produced and sold Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income (loss) Basic Advanced Total 20,000 10,000 $ 30,000 $ $ 3,000,000 2,000,000 5,000,000 2,300,000 1,350,000 3,650,000 700,000 650,000 1,350,000 720,000 480,000 1,200,000 $ (20,000) $170,000 $150,000 Direct laborers are paid $20 per hour. Direct materials cost $40 per unit for the Basic model and $60 per unit for the Advanced model. Koontz is considering a change from plantwide overhead allocation to a departmental approach. The overhead costs in the company's Molding Department would be allocated based on machine-hours and the overhead costs in its Assemble and Pack Department would be allocated based on direct labor-hours. To enable further analysis, the controller gathered the following information: Manufacturing overhead $ 787,500 costs Direct labor hours: Basic Advanced Machine hours: Basic Advanced Required: Molding Assemble and Pack $562,500 Total $…
Match the descriptions 1 through 5 with labels a through e on the CVP chart. Dollars $25,000 $20,000 $15,000 $10,000 $5,000 $0 1. Break-even point 2. Total sales line 3. Loss area 4. Profit area 5. Total costs line (b) 200 400 600 (c) (d) (a) (e) 800 1,000 1,200 1,400 1,600 1,800 2,000 2,200 2,400 Units produced and sold
Sales 560,053 Variable expenses, 334,667 Fixed expenses 48,673 Compute the degree of operating leverage rounded to two decimal places. Enter only the amount for the degree of operating leverage rounded to two decimal places based on general rounding rules In the box provided below. Enter the amount only. Do not enter letters, words, or the calculation.
Based on the pro - forma income statement, please estimate OCF and complete the tables. Sales 125,000 Variable costs -29, 000 Fixed costs -30,000 Depreciation -12,800 EBIT 53, 200 Tax -18, 620 NI 34, 580 Enter your final answers as whole numbers without using 1000 separators. Use a " -" sign for cash costs, expenses, cash outflows. (1) Starting from EBIT EBIT + Depreciation - Tax OCF? = OCF What is EBIT? What is Depreciation? What is Tax? What is
Given the following information, what is the contribution margin ratio? Sales Variable expenses Fixed Expenses Net Income 44% 33% 23% 56% $828000 364320 276000 $187680
answer both parts correctly
Mairy Productions has three models: D, E, and F. The following information is available Model D 100.000 $37,000 $32,000 $20.000 $12,000 Sales revenue Variable expenses Contribution margin Fixed expenses Operating income (loss) Model E $37,000 $14,000 $23.000 $20,000 $3,000 A. Increase $13,000 OB. Decrease $13,000 OC. Increase $18,000 OD. Decrease $18,000 Model F $24,000 $14.000 $10,000 $20,000 ($10,000) Maizy Productions is thinking of discontinuing model F because it is reporting an operating loss. All fixed costs are unavoidable. Assuming Maizy Productions discontinues fine F and is able to double the production and sales of model E without increasing fixed costs. What effect will this have on operating income?
Checking account $250 Savings account $10,000 Cash from graduation gifts $500 Brokerage account $1,000 Monthly salary $6,000 Estimated annual taxes $12,000 Credit card balance (all due this year) $1,500 Credit card minimum payment due $125 Student loan total (due within 7 years) $25,000 Student loan monthly payment $300 Monthly rent (1 year contract required contract) $2,200 Entertainment monthly $300 Monthly internet bill (1 year required contract) $200 Coffee monthly $200 Household items (at market value -- computer, $4,000 furniture, etc.)
Solve following 1) Units sold 10000 Variable Expenses $0.07Million C.M.P.U $13 NI $0.012Million Sales? Fixed Expenses? 2) Variable Expenses 0.4 Fixed Expenses $0.13Million NI $0.02Million Sales? С.М. Total? 3) Sales $0.6Million Variable Expenses 0.7 NI ($0.005Million) С.М. Total? Fixed Expenses?

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$21 per unit) Le expenses: ble cost of goods sold able selling expense variable expenses ibution margin expenses: ufacturing ling and administrative fixed expenses operating income 488,400 122, 100 610,500 244,200 140,800 70,400 211, 200 $ 33,000