Financial Accounting Question please answer The controller of Orion Technologies prepared the followingprojected income statement:DescriptionSalesAmount$120,000Total variable cost $85,000Contribution margin $35,000Total fixed cost$18,000Operating Income$17,000A) Calculate the contribution margin ratio.B) Calculate the variable cost ratio.

Step 1: Define Contribution Margin RatioThe percentage of sales revenue that remains after covering…

Answered: The controller of Orion Technologies…

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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The accountant for PNW, LLC has prepared a contribution format income statement. Assume that the following information is within the relevant range. Sales (9,000 units) Variable expenses Contribution margin Fixed expenses $540,000 405,000 135,000 130,500 Net operating income $ 4,500 Assuming that the information provided is within the relevant range, the contribution margin ratio is closest to:
Given the following cost and activity observations for Leno Enterprises'utilities, use the high-low method to calculate Leno's variable utilities cost permachine hour. Cost Machine HoursSeptember £4,100 22,000October £3,700 18,000November £3,900 19,000December £4,500 28,000a) £0.08b) £4.86c) £0.25d) £12.50
Fill in the blanks for each of the following independent cases. (Click the icon to view the cases.) (For entries with a $0 balance, make sure to enter "0" in the appropriate cell. Round the contribution margin percentage to the nearest whole percent.) Variable Fixed Costs Costs Case Revenues a. $ Data table Case 400 Case a. Case b. Case c. Case d. $ 2,900 $ $ $ Total Costs 1,000 $ 1,800 Variable Fixed Total Revenues Costs Costs Costs 600 $ 400 Operating Income 800 Print $ 200 1,400 $ 200 $ Margin Percentage Contribution $ 1,000 600 $ $ Done % Operating Income 1,400 1,300 Contribution Margin Percentage 50% X
Harrington Corporation produces three products, A, B, and C. Pertinent information on these products is as follows: Product Selling Price per Unit Variable Cost per Unit Fixed Costper Unit DL Hoursper Unit A $ 4.00 $ 1.00 $ 2.00 2 B $ 3.50 $ 0.50 $ 2.00 2 C $ 6.00 $ 2.00 $ 3.00 3 The objective function for a linear program to maximize contribution margin from the set of three products is: Multiple Choice Z = $3A + $2.50B + $5C. Z = A + B + C. Z = A + $0.50B + $2C. Z = $3A + $3B + $4C. Z = $4A + $3.50B + $6C.
Need help with this question solution general accounting
a. Prepare a contribution margin by product report. Calculate the contribution margin ratio for each. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.
a) Classify each cost element as either fixed, variable, or mixed b) Calculate: (i) the variable production cost per unit and the total fixed production overhead. (ii) The total variable cost per unit and the total fixed costs Hint: Use the high-low method to separate mixed costs into their fixed and variable components. c) Assuming sales of 5,000 units, prepare a contribution margin income statement for the year ended December 31, 2020, detailing the components of total variable costs and total fixed costs, and clearly showing contribution and net income.
Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then compute the missing items.)
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Prearcan CVBA's income statement shows the following: Sales Revenue: $9,121,000 Variable Costs: 4,797,000 Fixed Costs: 3,946,000 If unit sales were 5,000, the contribution margin per unit to the nearest cent is : $

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