Subject - account Please help me Maurizio Inc. has manufacturedstage clothes for rock stars for thepast century. His apparel hasbeen worn by the Beatles, RollingStones & Elvis Presley. Perfect fitand glitter is what makes them indemand. Below is the financialsfor Maurizio Inc.:Variable$production 850.00costRevenueTotal fixedcostNumber ofoutfits sold$2,000.00$30,000200peroutfitperoutfitIf a 10% sales commission isintroduced what is the newContribution Margin Ratioexpressed as a percentage?

Contribution margin = Sales - Variable costContribution margin ratio = (Contribution margin per…

Answered: Maurizio Inc. has manufactured stage…

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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Exercise 7-37 (Algo) Prorate Over- or Underapplied Overhead (LO 7-3) Marian Manufacturing (2M) applies manufacturing overhead to jobs based on direct labor costs, For Year 2, 2M estimates its manufacturing overhead to be $422,760 and its direct labor costs to be $813,000. 2M worked on three jobs for the year. Job 2M-1, which was sold during Year 2, had actual direct labor costs of $536,250. Job 2M-2, which was completed but not sold at the end of the year, had actual direct labor costs of $360,750. Job 2M-3, which is still in work-in-process inventory, had actual direct labor costs of $78,000. Actual manufacturing overhead for Year 2 was $540,400. Required: Prepare an entry to allocate over- or underapplied overhead to Work in Process, Finished Goods and Cost of Goods Sold. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
Clicking Generate at the bottom of the A/P Create Payment Batch form creates a payment batch. Group of answer choices. True False
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Pharoah Company had these transactions during the current period. June 12 July 11 Nov. 28 Issued 81,500 shares of $1 par value common stock for cash of $305,625. Issued 4,150 shares of $102 par value preferred stock for cash at $109 per share. Purchased 3,050 shares of treasury stock for $9,800. Prepare the journal entries for the Pharoah Company transactions shown above. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

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Maurizio Inc. has manufactured stage clothes for rock stars for the past century. His apparel has been worn by the Beatles, Rolling Stones & Elvis Presley. Perfect fit and glitter is what makes them in demand. Below is the financials for Maurizio Inc.: Variable production $ 850.00 per outfit