Verge has two sales representatives-Rosemary Wilson and Maria Blanco. Each representative sold a total of 1,450 units during the month of March. Rosemary had a sales mix of 70% Le Cadre and 30% La Bougie. Maria had a sales mix of 60% Le Cadre and 40% La Bougie. Based on the above information, calculate Rosemary's total contribution to company profits. O A. $463,710 O B. $261,870 O C. $522,000 O D. $201,840

Verge has two sales representatives-Rosemary Wilson and Maria Blanco. Each representative sold a total of 1,450 units during the month of March. Rosemary had a sales mix of 70% Le Cadre and 30% La Bougie. Maria had a sales mix of 60% Le Cadre and 40% La Bougie. Based on the above information, calculate Rosemary's total contribution to company profits. O A. $463,710 O B. $261,870 O C. $522,000 O D. $201,840

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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J Coronado, Ltd. is a local coat retailer. The store’s accountant prepared the following income statement for the month ended January 31: Sales revenue $ 751,000 Cost of goods sold 585,780 Gross margin 165,220 Operating expenses Selling expense $ 24,430 Administrative expense 50,650 75,080 Net operating income $ 90,140 Coronado sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales. (a) Prepare a contribution format income statement for January. (Round per unit cost to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) Per Unit select an income statement item $enter a dollar…
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Mary is a sales person for Challenge Furniture. She receives an incremental commission based on the table below. If she sells $28,000 and has already received a draw of $766.15, how much commission is still owed to Mary? Level Sales volume Commission Rate 1 $0-11,700 3.1% 2 $11,700-21,200 4.3% 3 Over $21,200 4.9% Need Help? Read It Watch It Master it Submit Answer 4. [0/1 Points]' DETAILS MY NOTES BRECMBC9 9.1.028. PREVIOUS ANSWERS ASK YOUR TEACHER PRACTICE ANOTHER Jerry King is a server in a restaurant that pays a salary of $28 per day. He also averages tips of 18% of his total gross food orders. Last week he worked 6 days and had total food orders of $2,962.50. What was his total gross pay for the week (in $)? x Need Help? Read It Submit Answer
Zachary Corporation paid one of its sales representatives $8,500 during the month of March. The rep is paid a base salary plus $11 per unit of product sold. During March, the rep sold 170 units. Required Calculate the total monthly cost of the sales representative's salary for each of the following months. Month Number of units sold i Total variable cost Total fixed cost Total salary cost $ April 210 0 $ May 120 0 $ June 220 0 $ July 130 0
Morrisey & Brown, Ltd., of Sydney, Australia, is a merchandising firm that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow: MORRISEY & BROWN, LTD. Income Statements. For the Four Quarters Ending December 31 Quarter 1 Quarter 2 4,700 4,200 21:06 Sales in units Quarter 3 5,240 A$524,000 314,400 Sales revenue A$470,000 A$420,000 Quarter 4 4,800 A$480,000 288,000 192,000 Less: Cost of goods sold 282,000 252,000 Gross margin 188,000 168,000 209,600 Less: Operating expenses: ok Advertising expense 21,200 21, 200 21, 200 21, 200 Shipping expense 34,809 36,800 40,960 36,760 Salaries and commissions 79,200 78,400 90,880 86,160 Insurance expense 6,200 6,200 6,200 6,200 Depreciation expense 15,200 15, 200 156,600 157,800 A$ 31,400 A$ 10,200 A$ 35,160 15, 200 174,440 15, 200 165,520 Total operating expenses Net income A$ 26,480 (Note: Morrisey & Brown, Ltd.'s…
Zabeer Company is a large retailer of custom-built air conditioning units for commercial buildings. The company assembled the information shown below for the quarter ended March 31:Total sales revenue Tk.6,00,000Selling price per unit Tk.450 Variable selling expense per unit Tk.45Variable administrative selling expense per unit Tk.30Total fixed selling expense Tk.170,000Total fixed administrative expense Tk.130,000Merchandise inventory, opening balance Tk.60,000Merchandise inventory, ending balance Tk.1,10,000Merchandise purchase Tk.2,40,000Required: i. Prepare a traditional format income statement for the quarter ended March 31. ii. Prepare a contribution format income statement for the quarter ended March 31.
For February, sales revenue is $620,000, sales commissions are 6% of sales, the sales manager's salary is $80,300, advertising expenses are $80,200, shipping expenses total 2% of sale, and miscellaneous selling expenses are $2,700 plus 1/2 of 1% of sales. Total selling expenses for the month of February are O $212,800 O b. $200,400 O c. $215,900 Od $163,200
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Caldwell Supply, a wholesaler, has determined that its operations have three primary activities: purchasing, warehousing, and distributing. The firm reports the following operating data for the year just completed: Cost Driver Number of purchase orders Number of moves Distributing Number of shipments Activity Purchasing Warehousing Quantity of Cost Driver 1,200 8,900 700 Cost per Unit of Cost Driver $170 per order 39 per move 100 per shipment Caldwell buys 102,000 units at an average unit cost of $19 and sells them at an average unit price of $29. The firm also has fixed operating costs of $252,000 for the year. Maximum cost Caldwell's customers are demanding a 19% discount for the coming year. The company expects to sell the same amount if the demand for price reduction can be met. Caldwell's suppliers, however, are willing to give only a 13% discount. Required: Caldwell has estimated that it can reduce the number of purchase orders to 880 and can decrease the cost of each shipment by…
Paint Company has two customers Commercial and Consumer with data as follows: Commercial Consumer Selling Price per unit $15 $15 Units Sold 5,000 8,000 Manufacturing Cost per unit $8.25 $8.25 Number of Purchase Orders 76 212 Number of Deliveries 104 287 Number of Expedited deliveries 357 589 Customer Visits 58 75 Paint Company’s management accountant has gathered the following ABC rate information: ABC Cost Rate Purchase Orders $ 72 per purchase order Deliveries $ 43 per delivery Expedited Deliveries $ 18 per expedited delivery Customer Visits $ 56 per customer visit Using the information in the tables above and allocating indirect support costs using ABC to customers, what is the Operating Income for the Commercial customer?