The income statement for the RUN-28769 company, an atletic shoe retailer, for the first quarter of the year is presented below: RUN-28769 Income Statement Sales $213,200 80,600 Cost of goods sold Gross margin Selling and administrative expenses Selling 132,600 $70,400 34,792 105,192 Administration Net operating income $ 27,408 On average, an athletic shoe sells for $82. Variable selling expenses are $19 per athletic shoe, and the remaining selling expenses are fixed. The variable administrative expenses are 6% of sales with the remainder being fixed. How much is the total contribution margin for RUN-28769 for the first quarter?

The following data were collected for a retailer:Cost of goods sold $3,500,000Gross profit $700,000Operating costs $500,000Operating profit $200,000Total inventory $1,200,000Fixed assets $750,000Long-term debt $300,000Assuming 52 business weeks per year, express total inventory asa. Weeks of supplyb. Inventory turns

The following Income statement was drawn from the records of Walton Company, a merchandising firm: sales revenue (7,500 units x $163) Cost of goods sold (7,500 units × $81) Gross margin Sales commissions (10% of sales) Administrative salaries expense Required Advertising expense Depreciation expense Shipping and handling expenses (7,500 units x $3) Net income For the Year Ended December 31, Year 1 WALTON COMPANY Income statement Req A a. Reconstruct the income statement using the contribution margin format. b. Calculate the magnitude of operating leverage. c. Use the measure of operating leverage to determine the amount of net Income Walton will earn If sales increase by 10 percent. Complete this question by entering your answers in the tabs below. Req B and C Less: Fixed costs Less: Variable costs Reconstruct the income statement using the contribution margin format. WALTON COMPANY Income Statement For the Year Ended December 31, Year 1 S $1,222,500 (607,500) 615,000 (122,250)…

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The following data are for elite furniture co. For... Please provide answer the accounting question

The following Income statement was drawn from the records of Fanning Company, a merchandising firm: Sales revenue (7,000 units x $160) Cost of goods sold (7,000 units * $87) Gross margin Sales commissions (5% of sales) Administrative salaries expense Required For the Year Ended December 31, Year 1 Advertising expense Depreciation expense Shipping and handling expenses (7,000 units * $1) Net income FANNING COMPANY Income Statement Req A a. Reconstruct the Income statement using the contribution margin format. b. Calculate the magnitude of operating leverage. c. Use the measure of operating leverage to determine the amount of net Income Fanning will earn If sales Increase by 20 percent. Complete this question by entering your answers in the tabs below. Reg B and C FANNING COMPANY Income Statement For the Year Ended December 31, Year 1 Less: Variable costs Reconstruct the income statement using the contribution margin format. Less: Fixed costs $1,120,088 (609,000) 511,000 (56,000)…

Shown here are annual financial data taken from two different companies. Beginning inventory: Merchandise Music World Retail Wave-Board Manufacturing $1,35,000 Finished goods $ 2,30,000 Cost of purchases $ 3,40,000 Cost of goods $ 5,71,000 manufactured Ending inventory: Merchandise Finished goods Required: $1,90,000 $ 2,20,000 Prepare the cost of goods sold section of the income statement for the year for each company in Merchandising Business and Manufacturing Business.

The condensed product-line income statement for Dish N’ Dat Company for the month of May is as follows: Dish N' Dat CompanyProduct-Line Income StatementFor the Month Ended May 31   Bowls   Plates   Cups Sales $92,300     $137,400     $43,500   Cost of goods sold 42,300     55,000     26,700   Gross profit $50,000     $82,400     $16,800   Selling and administrative expenses 35,600     55,600     22,400   Income from operations $14,400     $26,800     $(5,600)     Fixed costs are 15% of the cost of goods sold and 25% of the selling and administrative expenses. Dish N' Dat assumes that fixed costs would not be materially affected if the Cups line were discontinued. Question Content Area a.  Prepare a differential analysis dated May 31 to determine whether to Continue Cups (Alternative 1) or Discontinue Cups (Alternative 2). If an amount is zero, enter "0". For those boxes in which you must enter subtracted or negative numbers use a minus sign. Differential…

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Use the following to answer questions 18 – 21 BY Inc., begins the year with inventory of $36,500 and ends the year with inventory of $45,100. During the year, the following amounts are recorded: Sales $978,500 Sales returns & allowances 14,100 Sales discounts 12,400 Purchases 515,000 Operating expenses 214,300 18. $ Net Sales 19. $ Calculate cost of goods sold 20. $ Gross profit 21. % Gross profit ratio (rounded to once decimal place)