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ef Exercises: Set A Brief Exercise 7-13 Variable Cost, Fixed Cost, Objective 1- Determin sales dollars. Examp Head-First Company p coming year. Product Direct materials per Direct labor per helm Variable factory ove helmet Total fixed factory ow Variable selling expen administrative expens Required: 1. Calculate the total var 2. Calculate the total fixe 3. Prepare a contribution the coming year.

ef Exercises: Set A Brief Exercise 7-13 Variable Cost, Fixed Cost, Objective 1- Determin sales dollars. Examp Head-First Company p coming year. Product Direct materials per Direct labor per helm Variable factory ove helmet Total fixed factory ow Variable selling expen administrative expens Required: 1. Calculate the total var 2. Calculate the total fixe 3. Prepare a contribution the coming year.

FINANCIAL ACCOUNTING
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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Cengage Learning Chapter Review -7g Brief Exercises: Set A Brief Exercise 7-13 Completed Variable Cost, Fixed Cost, Contribution Margin Income Statement om) Objective 1 - Determine the break-even point in number of units and in total sales dollars. • Example 7.1 Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. Product costs include: Direct materials per helmet Direct labor per helmet Variable factory overhead per helmet Total fixed factory overhead Brief Exercise 7-14 $ 30 Break-Even Point in Units 8 4 Variable selling expense is a commission of $3 per helmet; fixed selling and administrative expense totals $29,500. Required: 1. Calculate the total variable cost per unit. 20,000 2. Calculate the total fixed expense for the year. 3. Prepare a contribution margin income statement for Head-First Company for the coming year. Fixed Cost = Sales Price Unit - Variab Cost per unit
Transcribed Image Text:Cengage Learning Chapter Review -7g Brief Exercises: Set A Brief Exercise 7-13 Completed Variable Cost, Fixed Cost, Contribution Margin Income Statement om) Objective 1 - Determine the break-even point in number of units and in total sales dollars. • Example 7.1 Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. Product costs include: Direct materials per helmet Direct labor per helmet Variable factory overhead per helmet Total fixed factory overhead Brief Exercise 7-14 $ 30 Break-Even Point in Units 8 4 Variable selling expense is a commission of $3 per helmet; fixed selling and administrative expense totals $29,500. Required: 1. Calculate the total variable cost per unit. 20,000 2. Calculate the total fixed expense for the year. 3. Prepare a contribution margin income statement for Head-First Company for the coming year. Fixed Cost = Sales Price Unit - Variab Cost per unit
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