Starwise Company had the following amounts from its income statement: $100,000 Sales revenue 32,000 Cost of goods sold -fixed 25,000 Cost of goods sold -variable 9,000 Selling expenses - fixed Selling expenses - variable 11,000 Administrative expenses - fixed 12,000 Administrative expenses - variable 8,000 How much is Starwise's contribution margin? $56,000. O$3,000. O $75,000. $43,000.

Starwise Company had the following amounts from its income statement: $100,000 Sales revenue 32,000 Cost of goods sold -fixed 25,000 Cost of goods sold -variable 9,000 Selling expenses - fixed Selling expenses - variable 11,000 Administrative expenses - fixed 12,000 Administrative expenses - variable 8,000 How much is Starwise's contribution margin? $56,000. O$3,000. O $75,000. $43,000.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

See similar textbooks

Similar questions

Blossom Company had the following amounts from its income statement: Sales revenue (800 units) $64000 Cost of goods sold - fixed 16000 Cost of goods sold - variable 14800 Selling expenses - fixed 5600 Selling expenses - variable 4800 Administrative expenses - fixed 4000 Administrative expenses - variable 6000 How much is Blossom's contribution margin? O $49200. O $38400. $33200. O $12800.
The following information is available for Concord Corporation: Total fixed $150000 expenses == Total variable. 320000 expenses Sales Cost of goods sold $570000 370000 A CVP income statement would report O gross profit of $250000, contribution margin of $420000. Ogross profit of $200000. O contribution margin of $250000.
How much?
Complete each of the following contribution format income statements by supplying the missing numbers. a. b. c. d. Sales revenue $ $485,168 $ $686,356 Variable expenses 232,804 102,728 Contribution margin 130,532 171,860 430,808 Fixed expenses 87,912 146,396 Operating income 21,597 Income taxes 25,184 21,532 60,859 Net income $15,118 $ $64,596 $182,577
The following information is available for Wade Corp.: Sales $550,000 Total fixed expenses $150,000 Cost of goods sold 390,000 Total variable expenses 360,000 A CVP income statement would report gross profit of $160,000. contribution margin of $400,000. gross profit of $190,000. contribution margin of $190,000.
A company’s contribution approach income statement showed net operating incomeof $4,000, and fixed expenses of $10,000. How much contribution margin did thecompany earn?a. $29,000b. $15,000c. $19,000d. $14,000
1. The Variable Cost of Goods Sold in the Marin Company totals P325,000. Fixed selling and administrative expenses totaled P115,000 and variable selling and administrative expenses were P210,000. If Marin Company's contribution margin totaled P590,000, then sales must have been * O Ph 650,000 O Ph 915,000 Ph 1,030,000 O Ph 1,125,000
The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
The following information is available for Concord Company: Sales Total fixed expenses Cost of goods sold Total variable expenses $301000 $51600 103200 86000 What amount would you find on Concord's CVP income statement? General 41:18 O gross profit of $197800 • contribution margin of $163400 O contribution margin of $215000 O gross profit of $163400
Kingsbury Manufacturing has net sales revenue of $800,000, cost of goods sold of $343,600, and all other expenses of $327,800. The net profit margin is: Multiple Choice 0.37 0.16 0.57 0.84 < Prev Next im 39 of 50
If cost of goods sold is $520,000 and the gross profit rate is 20%, what is the gross profit? Select one: a. $2,600,000. b. $130,000. c. $ 520,000. d. $416,000.
A summary of HM Co's recent statement of profit or loss is given below: $'000 Revenue 10,123 Cost of sales (7,222) Gross profit 2,901 Expenses (999) Profit before interest and tax 1,902 Interest (1,000) Tax (271) Profit after interest and tax 631 70% of cost of sales and 10% of expenses are variable costs. What is HM Co's operational gearing?