Not use ai please don't Nikkel Corporation, a merchandising company, reported the followingresults for July:Sales$407,000Cost of goods sold (all variable)$173,400Total variable selling expense$20,400Total fixed selling expense$22,200Total variable administrative expense $14,800Total fixed administrative expense$39,700The gross margin for July is:a. $233,600b. $345,100c. $198,400d. $136,500

Step 1: Define Income StatementThe income statement for a firm may be prepared by using the…

Answered: Nikkel Corporation, a merchandising…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 6EA: Akira Company had the following transactions for the month. Calculate the gross margin for the...

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Calip Corporation, a merchandising company, reported the following results for October: Sales Cost of goods gold (all variable) Total variable selling expense Total fixed selling expense $490,000 $169,700 $24,200 $21,700 Total variable administrative expense $13,200 Total fixed administrative expense $33,600 The gross margin for October is: a) $320,300 b) $434,700 c) $282,900 d) $227,600
The following information is available for a company's cost of sales over the last five months. MonthUnits soldCost of salesJanuary560$28,600February740$34,000March1,300$46,000April2,560$58,000 Using the high-low method, the estimated total fixed cost is:
Muscat company, reported the following results for January: Number of units 10,000 Selling price $10 Total Variable selling expense $7,000 Total Variable administrative expense $10,000 Total fixed selling expense $20,000 Total fixed administrative expense $8,000 Merchandise Beginning $5,000 Merchandise Purchase $50,000 Merchandise Ending $10,000 Based on traditional income statement Muscat company’s net profit will be?
Geneva Company reports the following information for July: Sales $ 792,000 Variable cost of goods sold 239,000 Fixed cost of goods sold 114,000 Calculate the contribution margin for July.
Calip Corporation, a merchandising company, reported the following results for October: Sales Cost of goods sold (all variable) Total variable selling expense Total fixed selling expense Total variable administrative expense Total fixed administrative expense The contribution margin for October is: $453,000 $183,000 $12,000 $9,900 $8,000 $25,600
Bolka Corporation, a merchandising company, reported the following results for October: Sales Cost of goods sold (all variable) Total variable selling expense Total fixed selling expense Total variable administrative expense Total fixed administrative expense The contribution margin for October is: $ 411,000 $ 174,300 $ 26,200 $ 23,800 $ 15,700 $ 38,700
Mauka, Inc. provided the following income statement for last year: Sales $24,350,735 Cost of goods sold 15,300,000 Gross margin $9,050,735 Operating expenses 4,910,685 Operating income $4,140,050 511,015 $3,629,035 1,461,214 $2,167,821 Required: Calculate the times-interest-earned ratio. Round the answer to one decimal place. times Interest expense Income before taxes Income taxes Net income
Shown below are information provided by the bookkeeper of Luna Corporation: A. Sales for the month of December totaled 286,000 units. B. The following purchases were made in December: Date Quantity Unit Cost 12/4 50,000 P13.00 12/8 62,500 12.50 12/11 75,000 12.00 12/24 70,000 12.40 C. There were 108,500 units on hand on December 1 with a total cost of P1,450,000. D. The company uses a periodic FIFO costing system. Its gross…
The condensed product-line income statement for Dish N’ Dat Company for the month of May is as follows: Dish N' Dat CompanyProduct-Line Income StatementFor the Month Ended May 31 Bowls Plates Cups Sales $92,300 $137,400 $43,500 Cost of goods sold 42,300 55,000 26,700 Gross profit $50,000 $82,400 $16,800 Selling and administrative expenses 35,600 55,600 22,400 Income from operations $14,400 $26,800 $(5,600) Fixed costs are 15% of the cost of goods sold and 25% of the selling and administrative expenses. Dish N' Dat assumes that fixed costs would not be materially affected if the Cups line were discontinued. Question Content Area a. Prepare a differential analysis dated May 31 to determine whether to Continue Cups (Alternative 1) or Discontinue Cups (Alternative 2). If an amount is zero, enter "0". For those boxes in which you must enter subtracted or negative numbers use a minus sign. Differential…
A company has provided the following details for a month: Estimated Sales Units 16,500 Variable Selling and Administrative Expense per Unit $4.00 Fixed Selling and Administrative Expenses $95,000 Depreciation Expense included in Fixed Selling and Administrative Expense $27,000 How much is expected cash disbursements for selling and administrative expenses?
The condensed product-line income statement for Rhinebeck Company for the month of October is as follows: Rhinebeck CompanyProduct-Line Income StatementFor the Month Ended October 31 Hats Gloves Mufflers Sales $71,000 $105,700 $45,000 Cost of goods sold (32,600) (42,300) (27,000) Gross profit $38,400 $63,400 $18,000 Selling and administrative expenses (27,400) (42,800) (25,000) Operating income (loss) $11,000 $20,600 $(7,000) Fixed costs are 20% of the cost of goods sold and 30% of the selling and administrative expenses. Rhinebeck Company assumes that fixed costs would not be materially affected if the Gloves line were discontinued. Question Content Area a. Prepare a differential analysis dated October 31 to determine if Mufflers should be continued (Alternative 1) or discontinued (Alternative 2). If an amount is zero, enter "0". If required, use a minus sign to indicate a loss. Differential…
Oriole 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: Variable Fixed Cost of goods sold $209,100 $123,000 Selling expenses 63,550 31,775 Administrative expenses 27,675 32,800 Prepare a detailed CVP income statement for the month ended January 31, 2022. (Round per unit cost to 2 decimal places, e.g. 15.25.)

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