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Waltham 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 Case Dix Johnson La Fave Orcas Sussman Willbond Required: Total Sales $571,000 372,000 410,000 482,000 403,000 448,000 623,000 Case Dix Variable Cost of Goods Sold Salesperson Contribution Margin $216,980 178,560 180,400 197,620 217,620 201,600 199,360 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. Variable Selling Expenses $108,490 59,520 53,300 106,040 84,630 94,080 124,600 Salespersons' Analysis For the Year Ended December 31 % Variable Cost of Goods Sold as a Percent of Sales % Variable Selling Expenses Contribution Margin as a Percent of Sales % % Ratio % %

Waltham 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 Case Dix Johnson La Fave Orcas Sussman Willbond Required: Total Sales $571,000 372,000 410,000 482,000 403,000 448,000 623,000 Case Dix Variable Cost of Goods Sold Salesperson Contribution Margin $216,980 178,560 180,400 197,620 217,620 201,600 199,360 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. Variable Selling Expenses $108,490 59,520 53,300 106,040 84,630 94,080 124,600 Salespersons' Analysis For the Year Ended December 31 % Variable Cost of Goods Sold as a Percent of Sales % Variable Selling Expenses Contribution Margin as a Percent of Sales % % Ratio % %

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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Waltham 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 Case Dix Johnson LaFave Orcas Sussman Willbond Required: Total Sales Case $571,000 372,000 410,000 482,000 403,000 448,000 623,000 Dix Variable Cost of Goods Sold Salesperson Contribution Margin 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. $216,980 178,560 180,400 197,620 217,620 201,600 199,360 Variable Selling Expenses $108,490 59,520 53,300 106,040 84,630 94,080 124,600 Salespersons' Analysis For the Year Ended December 31 Variable Cost of Goods Sold as a Percent of Sales % % Variable Selling Expenses Contribution Margin as a Percent of Sales % % Ratio % % HE BE
Transcribed Image Text:Waltham 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 Case Dix Johnson LaFave Orcas Sussman Willbond Required: Total Sales Case $571,000 372,000 410,000 482,000 403,000 448,000 623,000 Dix Variable Cost of Goods Sold Salesperson Contribution Margin 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. $216,980 178,560 180,400 197,620 217,620 201,600 199,360 Variable Selling Expenses $108,490 59,520 53,300 106,040 84,630 94,080 124,600 Salespersons' Analysis For the Year Ended December 31 Variable Cost of Goods Sold as a Percent of Sales % % Variable Selling Expenses Contribution Margin as a Percent of Sales % % Ratio % % HE BE
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