Swifty Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are asfollows.(a)Compute the missing amounts.OperatingWomen's ShoesMen's ShoesChildren's ShoesDataContribution$329,4002$(3)$219,600marginControllablefixed costs122,000(4)(5)Controllable(1)109,800115,900marginSales732,000549,000(6)Variable costs(2)390,400305,000 Prepare a responsibility report for the Women's Shoes Division assuming (1) the data are for the month ended June 30, 2022, and(2) all data equal budget except variable costs which are $6,100 over budget.SWIFTY INC.Women's Shoe DivisionResponsibility ReportDifferenceFavorableUnfavorableNeither FavorableBudgetActualnor Unfavorable$$2424

The question is based on the concept of Cost Accounting.1) Operating Data Women's Shoes Men's shoes Children's shoes Contribution margin $329400 $158600 (3) $219600 Controllable fixed costs 122000 48800 (4) 103700 (5) Controllable margin 207400 (1) 109800 115900 Sales 732000 549000 524600 (6) Variable costs 402600 (2) 390400 305000 Working Note: (1)Controllable Margin = Contribution Margin - Controllable Fixed Cost = 329400 - 122000 = 207400 (2) Variable cost = Sales - Contribution margin = 732000 - 329400 = 402600 (3) Contribution Margin = Sales - Variable Cost = 549000 - 390400 = 158600 (4) Controllable fixed costs = Contribution margin - Controllable margin = 158600 - 109800 = $48800 (5) Controllable fixed costs = Contribution margin - Controllable margin = 219600 - 115900 = 103700 (6) Sales = Contribution margin + Variable cost = 219600 + 305000 = 524600 2) SWIFTY INC. Women's Shoe Division Responsibility Report Difference Favorable Unfavorable Neither favorable nor unfavorable Budget Actual Sales $732000 $732000 $0 Neither favorable nor unfavorable Variable costs 396500 402600 6100 Unfavorable Contribution margin 335500 329400 6100 Unfavorable Controllable fixed costs 122000 122000 0 Neither favorable nor unfavorable Controllable margin $213500 $207400 $6100 Unfavorable Budget Variable Costs = Actual variable cost - 5530 = 402600 - 6100 = $396500

Business

Accounting

Swifty Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are as follows. (a) Compute the missing amounts. Operating Women's Shoes Men's Shoes Children's Shoes Data Contribution $329,400 2$ (3) $219,600 margin Controllable fixed costs 122,000 (4) (5) Controllable (1) 109,800 115,900 margin

Swifty Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are as follows. (a) Compute the missing amounts. Operating Women's Shoes Men's Shoes Children's Shoes Data Contribution $329,400 2$ (3) $219,600 margin Controllable fixed costs 122,000 (4) (5) Controllable (1) 109,800 115,900 margin

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A-3
Please help me with all answers thanku
U company is having 2 divisions the Adif division and Wolf division. The total income of the company is $17,500. The segment margin for Adif division and Wolf division is $75,800 and $52,600 respectively. Determine the amount of common fixed expense not traceable to the www individual divisions a. $110,900 b. $128,400 c. $23,200 d. $15,450
Assume you are the department B manager for Marley's Manufacturing. Marley's operates under a cost-based transfer structure. Assume you receive the majority of your raw materials from department A, which sells only to department B (they have no outside sales). The income statement for Marley's Manufacturing is shown below: Marley's ManufacturingIncome StatementMonth Ending August 31, 2018 Dept. A Dept. B Sales $21,000 $52,000 Cost of goods sold 10,290 27,560 Gross profit $10,710 $24,440 Utility expenses 1,050 3,640 Wages expense 5,460 10,400 Costs allocated from corporate 2,100 15,080 Total expenses $8,610 $29,120 Operating income/(loss) in dollars $2,100 -$4,680 Operating income/(loss) in percentage 10 % -9 % Assume the market price for the items your department purchase is 15% below what you are being charged by department A of Marley’s Manufacturing. Determine the operating income for department B, assuming department A…
please give me answer dont give answer in image format
During Heaton Company's first two years of operations, It reported absorption costing net operating income as follows: Sales (@ $63 per unit) Cost of goods sold (@ $35 per unit) Gross margin Selling and administrative expenses* Year 1 $1,008, 000 560, 000 448, 000 295, 000 Year 2 $1,638,000 910, 000 728,000 325, 000 2$ Net operating income $4 153, 000 403, 000 * $3 per unit variable; $247,000 fixed each year. The company's $35 unit product cost is computed as follows: $ 5 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($357, 000 + 21, 000 units) 10 17 $ 35 Absorption costing unit product cost Production and cost data for the first two years of operations are: Year 2 Year 1 Units produced Units sold 21, 000 16, 000 21, 000 26, 000 Required: 1. Using variable costing, what is the unit product cost for both years? Next > 4 of 5 < Prev DELL
Owen Audio shows the following information for its two divisions for year 1. Commercial Division. Consumer Division $ 1,879,2001 1,127,520 293,400 $ 5,950,800 3,797,100 366,840 130,680 413,820 Sales revenue Cost of sales Selling, General and Administrative Allocated corporate overhead Required: a. Compute divisional operating income for the two divisions. Ignore taxes. b-1. What are the gross margin and operating margin percentages for both divisions? b-2. How well have these divisions performed? Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Compute divisional operating income for the two divisions. Ignore taxes. Consumer Division Commercial Division Operating income
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Pippen Co. recorded operating data for its shoe division for the year. Sales $1,000,000 Contribution margin I Direct controllable fixed costs Indirect non-controllable fixed costs 30,000 Which one of the following reflects the controllable margin for the year? Select one: O a. $80,000 O b. $320,000 O c. $50,000 O d. $200,000 200,000 120,000
Tops Corporation is organized into two divisions, Manufacturing and Marketing. Both divisions are considered to be profit centers and the two division managers are evaluated in large part on divisional income. The company makes a single product. It is fabricated in Manufacturing and then packaged and sold in Marketing. There is no intermediate market for the product. The monthly income statements, in thousands of dollars, for the two divisions follow. Production and sales amounted to 10,000 units. Manufacturing Marketing Revenues 3,000 5,000 Variable costs $ 2,400 $ 3,700 Contribution margin $ 600 $ 1,300 Fixed costs $ 500 $ 800 Divisional profit $ 100 $ 500 The company has just received an offer to buy 1,000 units of the product this month at a price of $400 per unit. The Marketing Division manager suggests that for the special order only, the transfer price be set at 50 percent of the sales price, or $200 per unit.…
Subject: accounting
answer in text form please (without image)