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 $596,000 $244,360 $95,360 Dix 570,000 290,700 85,500 Johnson 555,000 233,100 122,100 LaFave 590,000 247,800 82,600 Orcas 415,000 141,100 66,400 Sussman 430,000 189,200 90,300 Willbond 358,000 143,200 71,600 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 December 31 Salesperson Contribution Margin Variable Cost of Goods Sold as a Percent of Sales Variable Selling Expenses as a Percent of Sales Contribution Margin Ratio Case $fill in the blank 4c64840a603ef84_1 fill in the blank 4c64840a603ef84_2% fill in the blank 4c64840a603ef84_3% fill in the blank 4c64840a603ef84_4% Dix fill in the blank 4c64840a603ef84_5 fill in the blank 4c64840a603ef84_6% fill in the blank 4c64840a603ef84_7% fill in the blank 4c64840a603ef84_8% Johnson fill in the blank 4c64840a603ef84_9 fill in the blank 4c64840a603ef84_10% fill in the blank 4c64840a603ef84_11% fill in the blank 4c64840a603ef84_12% LaFave fill in the blank 4c64840a603ef84_13 fill in the blank 4c64840a603ef84_14% fill in the blank 4c64840a603ef84_15% fill in the blank 4c64840a603ef84_16% Orcas fill in the blank 4c64840a603ef84_17 fill in the blank 4c64840a603ef84_18% fill in the blank 4c64840a603ef84_19% fill in the blank 4c64840a603ef84_20% Sussman fill in the blank 4c64840a603ef84_21 fill in the blank 4c64840a603ef84_22% fill in the blank 4c64840a603ef84_23% fill in the blank 4c64840a603ef84_24% Willbond fill in the blank 4c64840a603ef84_25 fill in the blank 4c64840a603ef84_26% fill in the blank 4c64840a603ef84_27% fill in the blank 4c64840a603ef84_28% 2. Which salesperson generated the highest contribution margin ratio for the year? 3. Identify the factors other than contribution margin that should be considered in evaluating the performance of salespersons. Rate of growth in sales for the current year compared with past years Years of experience for salespersons Size of sales territory Actual sales compared with budgeted sales
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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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 $596,000 $244,360 $95,360 Dix 570,000 290,700 85,500 Johnson 555,000 233,100 122,100 LaFave 590,000 247,800 82,600 Orcas 415,000 141,100 66,400 Sussman 430,000 189,200 90,300 Willbond 358,000 143,200 71,600 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 December 31 Salesperson Contribution Margin Variable Cost of Goods
Sold as a Percent of SalesVariable Selling Expenses
as a Percent of SalesContribution Margin
RatioCase $fill in the blank 4c64840a603ef84_1 fill in the blank 4c64840a603ef84_2% fill in the blank 4c64840a603ef84_3% fill in the blank 4c64840a603ef84_4% Dix fill in the blank 4c64840a603ef84_5 fill in the blank 4c64840a603ef84_6% fill in the blank 4c64840a603ef84_7% fill in the blank 4c64840a603ef84_8% Johnson fill in the blank 4c64840a603ef84_9 fill in the blank 4c64840a603ef84_10% fill in the blank 4c64840a603ef84_11% fill in the blank 4c64840a603ef84_12% LaFave fill in the blank 4c64840a603ef84_13 fill in the blank 4c64840a603ef84_14% fill in the blank 4c64840a603ef84_15% fill in the blank 4c64840a603ef84_16% Orcas fill in the blank 4c64840a603ef84_17 fill in the blank 4c64840a603ef84_18% fill in the blank 4c64840a603ef84_19% fill in the blank 4c64840a603ef84_20% Sussman fill in the blank 4c64840a603ef84_21 fill in the blank 4c64840a603ef84_22% fill in the blank 4c64840a603ef84_23% fill in the blank 4c64840a603ef84_24% Willbond fill in the blank 4c64840a603ef84_25 fill in the blank 4c64840a603ef84_26% fill in the blank 4c64840a603ef84_27% fill in the blank 4c64840a603ef84_28% 2. Which salesperson generated the highest contribution margin ratio for the year?
3. Identify the factors other than contribution margin that should be considered in evaluating the performance of salespersons.
- Rate of growth in sales for the current year compared with past years
- Years of experience for salespersons
- Size of sales territory
- Actual sales compared with budgeted sales
- All of the above
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