Salespersons' Report and AnalysisWalthman 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 SoldVariable Selling Expenses$115,940135,000279,790236,340283,040282,150264,150CaseDixJohnsonLaFaveOrcasSussmanWillbondRequired: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.Salesperson Contribution MarginCaseDixJohnsonLaFaveOrcas$341,000375,000571,000606,000488,000627,000587,000SussmanWillbond$$51,15075,000108,49084,84078,080112,860105,660Waltham Industries Inc.Salespersons' AnalysisFor the Year Ended December 31Variable Cost of GoodsSold as a Percent of Sales%1%%%1%1%1%Variable Selling Expenses Contribution Marginas a Percent of SalesRatio%%%1%1%%%2. Which salesperson generated the highest contribution margin ratio for the year?1%%1%%1%%% 3. Identify the factors other than contribution margin that should be considered in evaluating the performance of salespersons.1. Rate of growth in sales for the current year compared with past years2. Years of experience for salespersons3. Size of sales territory4. Actual sales compared with budgeted sales5. All of the above

"Contribution margin tells you the aggregate amount of revenue available after variable costs to…

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: Variable Selling Expenses Salesperson Total Sales Variable Cost of Goods Sold Case Dix Johnson LaFave Orcas Sussman Willbond Required: Case Dix $341,000 375,000 571,000 606,000 488,000 627,000 587,000 Johnson LaFave Orcas $115,940 135,000 279,790 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. Sussman Willbond 236,340 283,040 282,150 264,150 Variable Cost of Goods Salesperson Contribution Margin Sold as a Percent of Sales as a Percent of Sales % $51,150 75,000 108,490 84,840 78,080 112,860 105,660 Waltham Industries Inc. Salespersons' Analysis For the Year Ended December 31 1% 11% 1% 1% Variable Selling Expenses Contribution Margin % P %% %% 2. Which salesperson generated the highest contribution margin ratio for the year? Ratio P

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: Variable Selling Expenses Salesperson Total Sales Variable Cost of Goods Sold Case Dix Johnson LaFave Orcas Sussman Willbond Required: Case Dix $341,000 375,000 571,000 606,000 488,000 627,000 587,000 Johnson LaFave Orcas $115,940 135,000 279,790 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. Sussman Willbond 236,340 283,040 282,150 264,150 Variable Cost of Goods Salesperson Contribution Margin Sold as a Percent of Sales as a Percent of Sales % $51,150 75,000 108,490 84,840 78,080 112,860 105,660 Waltham Industries Inc. Salespersons' Analysis For the Year Ended December 31 1% 11% 1% 1% Variable Selling Expenses Contribution Margin % P %% %% 2. Which salesperson generated the highest contribution margin ratio for the year? Ratio P

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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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…
The income statement for the RUN-84979 company, an atletic shoe retailer, for the first quarter of the year is presented below: RUN-84979 Income Statement Sales $151,200 54,600 96,600 Cost of goods sold Gross margin Selling and administrative expenses Selling Administration $45,400 29,096 74,496 Net operating income $ 22,104 On average, an athletic shoe sells for $72. Variable selling expenses are $14 per athletic shoe, and the remaining selling expenses are fixed. The variable administrative expenses are 8% of sales with the remainder being fixed. How much is the total contribution margin for RUN-84979 for the first quarter?
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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 $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…
Required information [The following information applies to the questions displayed below.] California Orchards reports the following sales data for the year ended December 31. Grade of Walnuts Number 1 Number 2 Sales $ 448,800 367,200 Number 3 Total 204,000 $ 1,020,000 The company incurred the following joint costs for the year. $ Tree pruning and care 618,800 Pickup, sorting, and grading 176,800 2. Compute gross profit for each of the three grades of walnuts. Assume, cost of goods sold consists only of the joint costs. ✓ Answer is complete but not Gross ect. Grade Profit |Number 1 $ 99,760X Number 2 110,469X Number 3 44,171X Total $ 254,400
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Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ 70,000 Less cost of goods sold ($58 per unit) 40,600 Gross margin 29,400 Less operating costs: Commissions expense ($6 per unit) $ 4,200 Salaries expense 7,900 Advertising expense 5,900 Shipping expense ($1 per unit) 700 18,700 Operating income $ 10,700 Per Unit select an income statement item $enter a dollar amount $enter a dollar amount select an opening name for section one : select an income statement item $enter a dollar amount enter a dollar amount select an income statement item…