Exercise 18-8 (Algo) Computing missing amounts in contribution margin Income statements LO A1 Compute the missing amounts in the contribution income statement shown below: (Round "Per Unit" answers to 2 decimal places.) Company A Company B Number of units sold Sales Variable costs Contribution margin Fixed costs Income 2,375 Total $ 465,000 $ 97.00 Per unit Total Per unit 302,400 123,500 166,250 $ 108,000 61,750

Exercise 18-8 (Algo) Computing missing amounts in contribution margin Income statements LO A1 Compute the missing amounts in the contribution income statement shown below: (Round "Per Unit" answers to 2 decimal places.) Company A Company B Number of units sold Sales Variable costs Contribution margin Fixed costs Income 2,375 Total $ 465,000 $ 97.00 Per unit Total Per unit 302,400 123,500 166,250 $ 108,000 61,750

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter10: Accounting Systems For Manufacturing Operations

Section: Chapter Questions

Problem 10.3MBA

See similar textbooks

Related questions

Q: Sunn Company manufactures a single product that sells for $140 per unit and whose variable costs are…

A: Breakeven is the point at which an entity is in a position of no profit and no loss. At this point,…

Q: Required information [The following information applies to the questions displayed below.] Martinez…

A: Contribution margin per unit = Selling price per unit - variable cost per unit

Q: Whirly Corporation's contribution format income statement for the most recent month is shown below:…

A: Variable cost is the required cost of production that changes with the change in level of output.…

Q: Question 4 Achimota Ltd produces a single product and has the following financial information:…

A: The income statement is prepared to record the revenue and expenses for the current period. The…

Q: What type of cost exhibits the behavior shown below? Manufacturing Volume (Units) Cost Per Unit…

A: Fixed costs are those cost which do not change with the change in level of activity.

Q: Cane Company manufactures two products called Alpha and Beta that sell for $150 and $105,…

A: Contribution Margin Total Variable Cost is subtracted from Total Sales to calculate contribution…

Q: Required: Prepare an income statement under absorption costing.

A: Absorption costing: Assigning each manufacturing cost to the product is referred to as absorption…

Q: Required information [The following information applies to the questions displayed below.] Martinez…

A: Manufacturing overhead is also called factory overhead . Manufacturing overhead cost is total of all…

Q: QS 17-18 (Algo) Allocating costs using ABC for a service company LO P4 Qinto Company sells two types…

A: Activity based costing is a technique that assigns the costs and overheads using the appropriate…

Q: 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement…

A: MEANING OF ABSORPTION COSTING Absorption costing is the practice of charging all variable…

Q: A8

A: Step 1: Sales in dollars are required to earn target profit.Target profit = $100,500Unit…

Q: Company XYZ made total contribution margin of $600,000 and a net income of $110,000. The company…

A: NOTE : As per BARTLEBY guidelines, when multiple independent questions are given, then first…

Q: QS 18-6 (Algo) Contribution margin ratio LO A1 Compute the contribution margin ratio and fixed costs…

A: Contribution margin ratio is calculated by dividing contribution margin by sales revenue.…

Q: Pedregon Corporation has provided the following information: Direct materials Direct labor Variable…

A: According to the given question, we are required to compute the total variable cost at the activity…

Q: Exercise 11-13A (Algo) Prepare an income statement using the contribution margin approach LO 11-3 AJ…

A: Total Fixed Cost = Fixed product cost + Fixed selling and administrative cost = $56,000 + $17,800 =…

Q: A6

A: The objective of the question is to find out the number of units that need to be sold to earn a…

Q: Assume that only one product is being sold in each of the four following case situations: Case #1…

Q: Compute the missing amounts in the contribution income statement shown below: (Round "Per U Number…

A: Contribution margin income statement is a special type of income statement.This income statement…

Q: Santana Rey has found that Business Solutions's line of computer desks and chairs has become very…

A: Particulars Desks Chairs Selling price per unit 1173.75 319 Variable costs per unit 550 110…

Question

Exercise 18-8 (Algo) Computing missing amounts in contribution margin Income statements LO A1
Compute the missing amounts in the contribution income statement shown below: (Round "Per Unit" answers to 2 decimal places.)
Company A
Company B
Number of units sold
Sales
Variable costs
Contribution margin
Fixed costs
Income
2,375
Total
$ 465,000 $ 97.00
Per unit
Total
Per unit
302,400
123,500
166,250
$ 108,000
61,750

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduce to income statement

VIEW

Step 2: Working for missing data of company A

VIEW

Step 3: Working for missing data of company B

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

10
Provide correct solution for this question
EXERCISE 1-11 Cost Behavior; Contribution Format Income Statement L01-4, L01-6 Harris Company manufactures and sells a single product. A partially completed schedule of the com- pany's total costs and costs per unit over the relevant range of 30,000 to 50,000 units is given below: Vist Jumsch Total costs: Variable cost. Fixed cost Total cost. Costs per unit: Variable cost. Fixed cost Total cost per unit. Units Produced and Sold 40,000 30,000 $180,000 300,000 $480,000 ? ? ? ? ? ? ? ? ? 50,000 ? ? ? ? ? ? Required: 1. Complete the above schedule of the company's total costs and costs per unit. 2. Assume that the company produces and sells 45,000 units during the year at a selling price of $16 per unit. Prepare a contribution format income statement for the year. 6 107
10
Please do not give solution in image format thanku
Exercise 19-22A (Algo) Converting variable costing Income to absorption costing Income LO A2 A manufacturer reports the following Information for the past three years. Variable costing income Beginning finished goods inventory (units) Ending finished goods Inventory (units) Fixed overhead (FOH) per unit Year 1 $125,000 130,400 Year 3 $131,450 1,788 1,200 1,700 1,200 1,388 $ 3.20 $3.20 $3.20 Compute Income for each of the three years using absorption costing. Hint Fixed overhead In Inventory equals the FOH per unit * Units In Inventory. (Amounts to be deducted should be indicated with a minus sign.) Answer is not complete. Year 1 Year 2 Year 3 Variable costing income $125.000 $ 130,400 $131,450 Fixad overhead in beginning FG Inventory 0 Fixed overhead in ending FG Inventory Absorption costing income
Hi expart get correct answer the accounting question
Accounting
Need help with this financial accounting question
Need help with this question
General Accounting Question get solution
E6-2A High-Low Method Apply the high-low method of cost analysis to the three cost data groups in E6-1A. What cost behavior are apparent? Express each as a cost formula. Volume (applicable to each group) Group A Costs Group B Costs Group C Costs 2,000 $2,600 $1,000 $2,400 12,000 12,600 6,000 2,400 16,000 16,600 8,000 2,400 20,000 20,600 10,000 2,400