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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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
Brissett Corporation makes three products that use the current constraint, which is a particular type of machine. Data concerning those products appear below: GK LQ XK Selling price per unit $ 119.51 $ 226.07 $ 228.96 Variable cost per unit $ 89.87 $ 176.86 $ 178.92 Time on the constraint (minutes) 1.90 3.70 3.60 Required: A. Rank the products in order of their current profitability from the most profitable to the least profitable. In other words, rank the products in the order in which they should be emphasized. B. Assume that sufficient constraint time is available to satisfy demand for all but the least profitable product. Up to how much should the company be willing to pay to acquire more of the constrained resource?
The following data are for Elm Leaf Apparel: East Sales volume (units): Product XX Product YY Sales price: Product XX Product YY Variable cost per unit: Product XX Product YY 6,300 3,300 $12 $15 $7 $9 West 5,300 7,100 $13 $14 $7 $9 a. Determine the contribution margin for Product YY. $fill in the blank 1 b. Determine the contribution margin for the West Region. $fill in the blank 2
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