Philadelphia Company has the following information for March:Sales$471,872Variable cost of goods sold223,448Fixed manufacturing costs76,779Variable selling and administrative expenses52,438Fixed selling and administrating expenses32,449Determine the March:a. Manufacturing margin$fill in the blank 1b. Contribution margin$fill in the blank 2c. Operating income for Philadelphia Company$fill in the blank 3

a. Manufacturing margin = Sales - Variable cost of goods sold = $471,872 - 223,448 = $248,424

Answered: Philadelphia Company has the following…

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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Philadelphia Company has the following information for March:

Sales	$471,872
Variable cost of goods sold	223,448
Fixed manufacturing costs	76,779
Variable selling and administrative expenses	52,438
Fixed selling and administrating expenses	32,449

Determine the March:

a. Manufacturing margin	$fill in the blank 1
b. Contribution margin	$fill in the blank 2
c. Operating income for Philadelphia Company	$fill in the blank 3

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