Financial Accounting PARENT FURNITURE COMPANY MANUFACTURES AND SELLSOAK TABLES AND CHAIRS. PRICE AND COST DATA FOR THEFURNITURE FOLLOW:SALES PRICETABLES CHAIRS$1,200 $10024726VARIABLE MANUFACTURING COSTS 768SALES COMMISSION (6%)1. CALCULATE THE TOTAL CONTRIBUTION MARGIN AND THECONTRIBUTIONREPRESENTATIVE.MARGIN RATIO FOR EACH SALES2. WHICH SALES REPRESENTATIVE HAS THE HIGHESTCONTRIBUTION MARGIN RATIO? EXPLAIN WHY.

Step 1: Define Cost-Volume-Profit (CVP) AnalysisThe CVP analysis is handy in figuring out the sales…

Answered: PARENT FURNITURE COMPANY MANUFACTURES…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 10EA: This cost data from Hickory Furniture is for the year 2017. Using the high-low method, express the...

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Cullumber Company makes three models of tasers. Information on the three products is given below. Sales Variable expenses Contribution margin Fixed expenses Net income (a) Net income $ (b) Shocker Net Income Tingler $300,000 $500,000 Tingler Net Income $ Total Net Income (c) Why or why not? Compute current net income for Cullumber Company. ta Net income would 151,400 148,600 $ 119,400 S $29,200 Fixed expenses consist of $298,000 of common costs allocated to the three products based on relative sales, as well as direct fixed expenses unique to each model of $30,000 (Tingler), $80,800 (Shocker), and $34,300 (Stunner). The common costs will be incurred regardless of how many models are produced. The direct fixed expenses would be eliminated if that model is phased out. James Watt, an executive with the company, feels the Stunner line should be discontinued to increase the company's net income. Shocker 197,000 303,000 229,800 $73,200 Compute net income by product line and in total for…
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Product Profitability Analysis PowerTrain Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVS), the Mountain Monster and Desert Dragon, from a single manufacturing facility. The manufacturing facility operates at 100% of capacity. The following per-unit information is available for the two products: Mountain Monster Desert Dragon Sales price $6,000 $4,000 Variable cost of goods sold 3,780 2,680 Manufacturing margin $2,220 $1,320 Variable selling expenses 1,260 480 Contribution margin $960 $840 Fixed expenses 450 340 Income from operations $510 $500 In addition, the following sales unit volume information for the period is as follows: Mountain Monster Desert Dragon Sales unit volume 3,000 2,300 a. Prepare a contribution margin by product report. Calculate the contribution margin ratio for each product as a whole percent.
A. Manufacturing margin? b. Contribution margin? C. Operating income for PhiladelPho's company ?
Product Profitability Analysis Galaxy Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVS), the Conquistador and Hurricane, from a single manufacturing facility. The manufacturing facility operates at 100% of capacity. The following per-unit information is available for the two products: Conquistador Hurricane Sales price $4,800 $3,200 Variable cost of goods sold (3,020) (2,140) Manufacturing margin $1,780 $1,060 Variable selling expenses (964) (548) Contribution margin $816 $512 Fixed expenses (380) (200) Operating income $436 $312 In addition, the following sales unit volume information for the period is as follows: Conquistador 2,800 Hurricane 2,000 Sales unit volume a. Prepare a contribution margin by product report. Compute the contribution margin ratjo for each product as a whole percent. Galaxy Sports Inc. Contribution Margin by Product
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Product Profitability Analysis Galaxy Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVS), the Conquistador and Hurricane, from a single manufacturing facility. The manufacturing facility operates at 100% of capacity. The following per-unit information is available for the two products: Conquistador Hurricane Sales price $4,800 $3,200 Variable cost of goods sold (3,020) (2,140) Manufacturing margin $1,780 $1,060 Variable selling expenses (916) (516) Contribution margin $864 $544 Fixed expenses (410) (220) Operating income $454 $324 In addition, the following sales unit volume information for the period is as follows: Conquistador Hurricane Sales unit volume 2,800 2,000

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