The following data are for Trendy Fashion Apparel: North South Sales volume (units): Blouses 5,135 4,684 Skirts 3,513 7,682 Sales price per unit: Blouses $24 $15 Skirts $18 $17 Variable cost per unit Blouses $7 $7
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- am. 123.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 $514,000 $246,720 $92,520 Dix 380,000 148,200 68,400 Johnson 455,000 209,300 86,450 LaFave 531,000 297,360 106,200 226,800 88,200 Orcas 630,000 219,520 89,600 Sussman 448,000 355,000 198,800 006 Willbond Required:Maryland Novelties Company produces and sells souvenir products. Monthly income statements for two activity levels are provided below: Unit volumes Revenue Less cost of goods sold Gross margin Less operating expenses Salaries and commissions Advertising expenses Administrative expenses Total operating expenses Net income Required 22,000 units $ 165,000 66,000 $ 99,000 22,000 33,000 13,750 68,750 $ 30,250 Required A Required B Required C 33,000 units $ 247,500 99,000 $ 148,500 a. Identify each of the following expenses as fixed, variable, or mixed. b. Use the high-low method to separate the mixed costs into variable and fixed components. c. Prepare a contribution margin income statement at the 22,000-unit level. 27,500 33,000 13,750 74,250 $ 74,250 Complete this question by entering your answers in the tabs below.
- Contribution Margin by Segment The following data are for Cabin Craft Apparel: East West Sales volume (units): Product XX 9,300 10,000 Product YY 6,100 12,900 Sales price: Product XX $18 $20 Product YY $23 $22 Variable cost per unit: Product XX $11 $11 Product YY $14 $14 a. Determine the contribution margin for Product YY.$fill in the blank 1 b. Determine the contribution margin for the West Region.$fill in the blank 2According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 2018. Let's see whether these changes are reflected in the income statement of Wizard Computers for the year ended December 31, 2018. 2018 2017 Sales Revenue $ 118,000 $ 147,000 Cost of Goods Sold 69,000 78,700 Gross Profit 49,000 68,300 Selling, General, and Administrative Expenses 37,800 40,600 Interest Expense 680 565 Income before Income Tax Expense 10,520 27,135 Income Tax Expense 2,500 6,800 Net Income $ 8,020 $ 20,335 Required: Compute the times interest earned ratios for 2018 and 2017. Does Wizard generate sufficient net income in both years (before taxes and interest) to cover the cost of debt financing? yes or noSalespersons' 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…
- Below is the common-sized statement for the current calendar year fo Hugo Boss and Industry average, Industry Hugo Boss Average Sales 100% 100% Cost of Goods Sold 46.7% 45.2% Gross Profit 53.3% 54.8% Selling Expenses 12.9% 16.7% Administrative Expenses 13.1% 14.5% Total Operating Expenses 25.0% 31.2% Income from Operations 27.3% 23.6% Other Revenue 1.8% 1.2% 29.% 24.8% Other Expense(Interest) 1.0 0.9 Income Before Income Tax 28.1% 23.9% Income Tax Expense 9.8 8.4 Net Income 18.3% 15.5% Using the common-sized statement above, compare Hugo Boss with the industry average and identify strengths and weaknesses that Hugo Boss has to the industry. Does Hugo Boss need any course correction. What does it need?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…Dress Designers, Inc., a clothing retailer, had the following total costs categorized by the value chain concept: Research and development Design Purchases Marketing Distribution Customer service What were the company's period costs? OA. $207,500 B. $101,000 C. $136,700 D. $279,700 $53,000 $17,800 $72,200 $42,300 $58,700 $35,700 ...
- Tike Industries is an apparel company that makes and sells both casual wear and sportswear. Here are data for the current year: Sales revenue Variable costs Contribution margin Traceable fixed costs Segment margin Common fixed costs Operating income Total $ 1,000,000 745,000 $255.000 (80,000) $175,000 (90,000) $85,000 Casual wear $ 450,000 388,000 $62,000 (25,000) $37,000 (42,000) S(5,000) Sportswear 5 pts $ 550,000 357,000 $193,000 (55,000) $138,000 (48,000) $90,000 Tike's accountant allocated the common fixed costs between the product lines based on sales revenue. Tike plans to discontinue the production of casual wear and use the freed-up capacity to triple the production and sale of sportswear. Although this will eliminate the traceable fixed costs for casual wear, the traceable fixed costs for sportswear will double. If Tike discontinues the casual wear product line, what would be the amount of the increase in Tike's operating income? Round to the nearest whole dollar and do not…Please help meDiff Analysis & Product Pricing: