<RevenuesCost of goods soldGross profitGross profit as a percent of salesCustomer 1$130,000Customer 2000 $210,000(113,400)$96,600(81,900)$48,100Activity BaseNumber of bid requestsNumber of shipmentsNumber of standard items orderedNumber of nonstandard items orderedRevenues37%The administrative records indicated that the activity-base usage quantities for each customer were as follows:152546%20Customer 1 Customer 2 Customer 3640Customer 35535$180,000(90,000)$90,0006550%60505285a. Prepare a customer profitability report dated for the year ended December 31, 20Y8, showing (1) the operating income after customer service activities, (2) the grossprofit as a percent of sales, and (3) the operating income after customer service activities as a percent of sales. Prepare the report with a column for each customer.Round percentages to the nearest whole percent.Metroid ElectricCustomer Profitability ReportFor the Year Ended December 31, 20Y8Customer 1Customer 2Customer 3

Variable costs are costs that vary with the change in the level of output.Operating income is the…

Revenues Cost of goods sold Gross profit Gross profit as a percent of sales Customer 1 $130,000 (81,900) $48,100 37% Revenues Activity Base Number of bid requests Number of shipments Number of standard items ordered Number of nonstandard items ordered 15 Customer 2 The administrative records indicated that the activity-base usage quantities for each customer were as follows: 25 20 $210,000 (113,400) $96,600 6 46% Customer 1 Customer 2 Customer 3 Customer 3 $180,000 (90,000) $90,000 40 50% 55 35 65 60 50 52 85 a. Prepare a customer profitability report dated for the year ended December 31, 20Y8, showing (1) the operating income after customer service activities, (2) the gross profit as a percent of sales, and (3) the operating income after customer service activities as a percent of sales. Prepare the report with a column for each customer. Round percentages to the nearest whole percent. Metroid Electric Customer Profitability Report For the Year Ended December 31, 20Y8 Customer 1 Customer 2 Customer 3

Revenues Cost of goods sold Gross profit Gross profit as a percent of sales Customer 1 $130,000 (81,900) $48,100 37% Revenues Activity Base Number of bid requests Number of shipments Number of standard items ordered Number of nonstandard items ordered 15 Customer 2 The administrative records indicated that the activity-base usage quantities for each customer were as follows: 25 20 $210,000 (113,400) $96,600 6 46% Customer 1 Customer 2 Customer 3 Customer 3 $180,000 (90,000) $90,000 40 50% 55 35 65 60 50 52 85 a. Prepare a customer profitability report dated for the year ended December 31, 20Y8, showing (1) the operating income after customer service activities, (2) the gross profit as a percent of sales, and (3) the operating income after customer service activities as a percent of sales. Prepare the report with a column for each customer. Round percentages to the nearest whole percent. Metroid Electric Customer Profitability Report For the Year Ended December 31, 20Y8 Customer 1 Customer 2 Customer 3

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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Question 16 A merchandising company reported the following results for July, shown here $402.800 $169,100 $17.100 $14.200 $7.600 $30,100 Sales Cost of goods sold (all variable)) Total variable selling expense Total fised selling expense Total variable administrative expense Total fixed administrative expense
Salespersons' Report and Analysis Walthman Industries Inc. employs seven salespersons to sell and distribute its product throughout the state. Data taken from reports received from the salespersons during the year ended December 31 are as follows: Salesperson Total Sales Variable Cost of Goods Sold Variable Selling Expenses Case $612,000 $336,600 $85,680 Dix 384,000 215,040 84,480 Johnson 461,000 225,890 101,420 LaFave 460,000 147,200 101,200 Orcas 399,000 131,670 51,870 Sussman 427,000 217,770 59,780 Willbond 439,000 184,380 70,240 Required: 1. Prepare a table indicating contribution margin, variable cost of goods sold as a percent of sales, variable selling expenses as a percent of sales, and contribution margin ratio by salesperson. Round percents to the nearest whole number. Enter all amounts as positive numbers. Waltham Industries Inc.Salespersons' AnalysisFor the Year Ended December…
Sales $ 1,066,000 Selling price per pair of skis $ 410 Variable selling expense per pair of skis $ 47 Variable administrative expense per pair of skis $ 18 Total fixed selling expense $ 135,000 Total fixed administrative expense $ 115,000 Beginning merchandise inventory $ 65,000 Ending merchandise inventory $ 120,000 Merchandise purchases $ 310,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit?
Evans Company reported the following: Manufacturing costs Units manufactured Units sold Beginning inventory $2,385,000 53,000 40,000 units sold for $100 per unit O units What is the amount of gross profit margin? $2,915,000 $4,000,000 $1,615,000 $2,200,000
Salespersons' Report and Analysis Walthman Industries Inc. employs seven salespersons to sell and distribute its product throughout the state. Data taken from reports received from the salespersons during the year ended December 31 are as follows: Salesperson Total Sales Variable Cost of Goods Sold Variable Selling Expenses Case $432,000 $211,680 $86,400 Dix 347,000 166,560 72,870 Johnson 564,000 293,280 101,520 LaFave 611,000 293,280 85,540 Orcas 588,000 199,920 76,440 Sussman 437,000 214,130 74,290 Willbond 525,000 252,000 73,500 Required: 1. Prepare a table indicating contribution margin, variable cost of goods sold as a percent of sales, variable selling expenses as a percent of sales, and contribution margin ratio by salesperson. Round percents to the nearest whole number. Enter all amounts as positive numbers. Waltham Industries Inc. Salespersons' Analysis For the Year Ended…
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Salespersons' Report and Analysis Walthman Industries Inc. employs seven salespersons to sell and distribute its product throughout the state. Data taken from reports received from the salespersons during the year ended December 31 are as follows: Salesperson Total Sales Variable Cost of Goods Sold Variable Selling Expenses Case $556,000 $211,280 $116,760 Dix 400,000 160,000 88,000 Johnson 350,000 133,000 52,500 LaFave 518,000 264,180 98,420 Orcas 553,000 270,970 88,480 Sussman 507,000 182,520 91,260 Willbond 493,000 276,080 69,020 Required: 1. Prepare a table indicating contribution margin, variable cost of goods sold as a percent of sales, variable selling expenses as a percent of sales, and contribution margin ratio by salesperson. Round percents to the nearest whole number. Enter all amounts as positive numbers. Waltham Industries Inc. Salespersons' Analysis For the Year Ended…