Need ans financial accounting question Omega Manufacturing Company has sales revenue of $3,600,000, with directmaterials cost of $540,000, direct labor cost of $720,000, variable overhead of$180,000, and fixed costs of $495,000. Calculate the contribution margin rate thatrepresents the percentage of each sales dollar available to cover fixed costs andgenerate profit.

Step 1: Define Contribution Margin RateContribution Margin Rate is the percentage of sales revenue…

Answered: Omega Manufacturing Company has sales…

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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The following information is available from the accounting records of Eva Corporation. Fixed costs per period are $4800. Sales volume for the last period was $19,360, and variable costs were $13,552. Capacity per period is a sales volume of $32,000. Compute the total contribution margin.
A
At a level of 20,420 units sold, Lee Corp. has sales of $653,600, a contribution margin ratio of 58%, and a profit of $95,300. What are the fixed costs?
Jamison Company produces and sells Product X at a total cost of $1,300 per unit, of which $880 is product cost and $420 is selling and administrative expenses. In addition, the total cost of $1,300 is made up of $740 variable cost and $560 fixed cost. The desired profit is $169 per unit. Determine the markup percentage on total cost.fill in the blank 1 %
Sunn Company manufactures a single product that sells for $240 per unit and whose variable costs are $192 per unit. The company's annual fixed costs are $734,400. Management targets an annual income of $1,200,000. (1) Compute the unit sales to earn the target income. Numerator: Denominator: (2) Compute the dollar sales to earn the target income. Numerator: Denominator: = = Units to Achieve Target Units to achieve target Dollars to Achieve Target Dollars to achieve target
Consider the following information available for Barium Company.
Can you answer this accounting question?
Last year, Jenson Enterprises earned an operating income of $27,800 with a contribution margin ratio of 0.30. Actual revenue was $250,000. Calculate the total fixed cost. Round your answer to the nearest dollar, if required.
Morrison Company sells 124,000 units at $16 per unit. Variable costs are $12 per unit, and fixed costs are $144,000. Determine (a) the contribution margin ratio, (b) the unit contribution margin, and (c) income from operations.
Bluegill Company sells 15,500 units at $320 per unit. Fixed costs are $248,000 and income from operations is $2,728,000. Determine the following: Round the contribution margin ratio to two decimal places. a. Variable cost per unit b. Unit contribution margin per unit c. Contribution margin ratio
What is raghus contribution margin rate?
At its $60 selling price, Atlantic Company has sales of $15,000, variable manufacturing costs of $4,000, fixed manufacturing costs of $1,000, variable selling and administrative costs of $2,000 and fixed selling and administrative costs of $1,000. What is the company's contribution margin per unit?

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