Please help me solve this accounting question 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.

1. Tables Chairs Sales Price 1,200.00 100.00 Variable manufacturing costs (768.00)…

Answered: PARENT FURNITURE COMPANY MANUFACTURES…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter3: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 11EB: Manufacturing builds and sells switch harnesses for glove boxes. The sales price and variable cost...

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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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Analyzing profitability Father Furniture Company manufactures and sells oak tables and chairs. Price and cost data for the furniture follow: Father Furniture has three sales representatives: Adam, Ben, and Caleb. Adam sold 100 tables With 6 chairs each. Ben sold 110 tables With 4 chairs each. Caleb sold 80 tables with 8 chairs each. Requirements Calculate the total contribution margin and the contribution margin ratio for each sales representative (round to two decimal places). Which sales representative has the highest contribution margin ratio? Explain Why
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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