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Use the following information to answer questions 1 through 5. Jump Technology uses an operational excellence strategy and manufactures inexpensive tablet computers. Its inventory policy requires that it hold zero inventory at the end of each month. Annual financial data follows. Units produced. Units sold.... Revenue.. Less: Costs Materials used in tablet. Factory supervisor salaries. Magazine Advertising... Direct labor......... Depreciation on plant machinery... Shipping to customers... Plant utilities (all variable). Plant rent.... Property taxes on the plant.. Net Operating Income... 10,000 10,000 Total $2,000,000. 550,000. 100,000. 150,000. 80,000. 120,000. 110,000. 70,000. 250,000. 20.000 $550,000 Per Unit $200.00 55.00 10.00 15.00 8.00 12.00 11.00 7.00 25.00 2.00 $55.00 1. Compute the total cost of goods sold that will appear on Jump's gross margin format income statement. 2. Compute the total contribution margin that will appear on Jump's contribution margin format income statement.

Use the following information to answer questions 1 through 5. Jump Technology uses an operational excellence strategy and manufactures inexpensive tablet computers. Its inventory policy requires that it hold zero inventory at the end of each month. Annual financial data follows. Units produced. Units sold.... Revenue.. Less: Costs Materials used in tablet. Factory supervisor salaries. Magazine Advertising... Direct labor......... Depreciation on plant machinery... Shipping to customers... Plant utilities (all variable). Plant rent.... Property taxes on the plant.. Net Operating Income... 10,000 10,000 Total $2,000,000. 550,000. 100,000. 150,000. 80,000. 120,000. 110,000. 70,000. 250,000. 20.000 $550,000 Per Unit $200.00 55.00 10.00 15.00 8.00 12.00 11.00 7.00 25.00 2.00 $55.00 1. Compute the total cost of goods sold that will appear on Jump's gross margin format income statement. 2. Compute the total contribution margin that will appear on Jump's contribution margin format income statement.

FINANCIAL ACCOUNTING
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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Use the following information to answer questions 1 through 5. Jump Technology uses an operational excellence strategy and manufactures inexpensive tablet computers. Its inventory policy requires that it hold zero inventory at the end of each month. Annual financial data follows. Units produced.. Units sold. Revenue. Less: Costs Materials used in tablet... Factory supervisor salaries.. Magazine Advertising... Direct labor.... Depreciation on plant machinery. Shipping to customers. Plant utilities (all variable). Plant rent... Property taxes on the plant. Net Operating Income... 10,000 10,000 Total $2,000,000... 3 550,000. 100,000. 150,000. 80,000. 120,000. 110,000. 70,000. 250,000. 20.000. $550,000. Per Unit $200.00 55.00 10.00 15.00 .8.00 12.00 11.00 7.00 25.00 2.00 $55.00 1. Compute the total cost of goods sold that will appear on Jump's gross margin format income statement. 2. Compute the total contribution margin that will appear on Jump's contribution margin format income statement.
Transcribed Image Text:Use the following information to answer questions 1 through 5. Jump Technology uses an operational excellence strategy and manufactures inexpensive tablet computers. Its inventory policy requires that it hold zero inventory at the end of each month. Annual financial data follows. Units produced.. Units sold. Revenue. Less: Costs Materials used in tablet... Factory supervisor salaries.. Magazine Advertising... Direct labor.... Depreciation on plant machinery. Shipping to customers. Plant utilities (all variable). Plant rent... Property taxes on the plant. Net Operating Income... 10,000 10,000 Total $2,000,000... 3 550,000. 100,000. 150,000. 80,000. 120,000. 110,000. 70,000. 250,000. 20.000. $550,000. Per Unit $200.00 55.00 10.00 15.00 .8.00 12.00 11.00 7.00 25.00 2.00 $55.00 1. Compute the total cost of goods sold that will appear on Jump's gross margin format income statement. 2. Compute the total contribution margin that will appear on Jump's contribution margin format income statement.
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