Salespersons' Report and AnalysisWalthman 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:SalespersonTotal SalesVariable Cost of Goods SoldVariable Selling ExpensesCase$372,000 $197,160 $70,680 Dix566,000 277,340 113,200 Johnson594,000 308,880 118,800 LaFave344,000 172,000 51,600 Orcas346,000 110,720 58,820 Sussman559,000 318,630 72,670 Willbond395,000 134,300 75,050 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 31SalespersonContribution MarginVariable Cost of Goods Sold as a Percent of SalesVariable Selling Expenses as a Percent of SalesContribution Margin RatioCase Dix Johnson LaFave Orcas Sussman Willbond

Formula: Contribution margin = Total sales - variable cost of goods sold - variable selling expense

Answered: Walthman Industries Inc. employs seven…

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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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	$372,000		$197,160	$70,680
Dix	566,000		277,340	113,200
Johnson	594,000		308,880	118,800
LaFave	344,000		172,000	51,600
Orcas	346,000		110,720	58,820
Sussman	559,000		318,630	72,670
Willbond	395,000		134,300	75,050

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 31

Salesperson	Contribution Margin	Variable Cost of Goods Sold as a Percent of Sales	Variable Selling Expenses as a Percent of Sales	Contribution Margin Ratio
Case
Dix
Johnson
LaFave
Orcas
Sussman
Willbond

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