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$429,000 $184,470 $90,090 Dix417,000 212,670 58,380 Johnson465,000 195,300 102,300 LaFave585,000 204,750 87,750 Orcas418,000 229,900 66,880 Sussman407,000 215,710 85,470 Willbond580,000 191,400 127,600 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 ContributionVariable Cost of Goods Sold as aVariable Selling Expenses as aContribution MarginSalespersonMarginPercent of SalesPercent of SalesRatioCase%%%Dix%%Johnson%%%LaFave%%%Orcas%%%Sussman%%Willbond%%%

Contribution Margin = Total Sales - Variable Cost of Goods Sold - Variable Selling Expenses Variable…

Answered: Walthman Industries Inc. employs seven…

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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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	$429,000		$184,470	$90,090
Dix	417,000		212,670	58,380
Johnson	465,000		195,300	102,300
LaFave	585,000		204,750	87,750
Orcas	418,000		229,900	66,880
Sussman	407,000		215,710	85,470
Willbond	580,000		191,400	127,600

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' Analysis

For the Year Ended December 31