Pharoah Industries carries no inventories. Its product is manufactured only when a customer's order is received. It is then shippedimmediately after it is made. For its fiscal year ended October 31, 2020, Pharoah's break-even point was $1.38 million. On sales of$119 million, its income statement showed a gross profit of $178,800, direct materials cost of $405.000, and direct labor costs of$503,000. The contribution margin was $142,800, and variable manufacturing overhead was $51,000.(a)Your AnswerCorrect Answer (Used)- Your answer is partially correct.Calculate the following:1.Variable selling and administrative expenses.882002.Fixed manufacturing overhead.241656003.Fixed selling and administrative expenses.113400eTextbook and MediaSolutionAttempts: 3 of 3 used(b)Your answer is incorrect.Ignore your answer to above part, assume that fixed manufacturing overhead was $100,000 and the fixed selling andadministrative expenses were $82,000. The marketing vice president feels that if the company increased its advertising, salescould be increased by 19%. What is the maximum increased advertising cost the company can incur and still report the sameincome as before the advertising expenditure?Maximum increased advertising expenditure%24

Name: Pharoah Industries carries no inventories. Its product is manufacture
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Description: Pharoah Industries carries no inventories. Its product is manufactured only when a customer's order is received. It is then shippedimmediately after it is made. For its fiscal year ended October 31, 2020, Pharoah's break-even point was $1.38 million

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Pharoah Industries carries no inventories. Its product is manufactured only when a customer's order is received. It is then shipped immediately after it is made. For its fiscal year ended October 31, 2020, Pharoah's break-even point was $1.38 million. On sales of $119 million, its income statement showed a gross profit of $178,800, direct materials cost of $405,000, and direct labor costs of $503,000. The contribution margin was $142,800, and variable manufacturing overhead was $51,000. (a) Your Answer Correct Answer (Used) Your answer is partially correct. Calculate the following: 1. Variable selling and administrative expenses. 88200 Fixed manufacturing overhead. 165600 3. Fixed selling and administrative expenses. 113400 %24 2.

Pharoah Industries carries no inventories. Its product is manufactured only when a customer's order is received. It is then shipped immediately after it is made. For its fiscal year ended October 31, 2020, Pharoah's break-even point was $1.38 million. On sales of $119 million, its income statement showed a gross profit of $178,800, direct materials cost of $405,000, and direct labor costs of $503,000. The contribution margin was $142,800, and variable manufacturing overhead was $51,000. (a) Your Answer Correct Answer (Used) Your answer is partially correct. Calculate the following: 1. Variable selling and administrative expenses. 88200 Fixed manufacturing overhead. 165600 3. Fixed selling and administrative expenses. 113400 %24 2.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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