Wildhorse Industries carries no inventories. Its product is manufactured only when a customer's order is received. It is then shipped immediately after it is made. For its fiscal year ended October 31, 2022, Wildhorse's break-even point was $1.37 million. On sales of $1.18 million, its income statement showed a gross profit of $189,400, direct materials cost of $402,000, and direct labor costs of $505,000. The contribution margin was $153,400, and variable manufacturing overhead was $51,000. (a) Calculate the following: 1 Variable selling and administrative expenses. $ 2 3. Fixed manufacturing overhead. Fixed selling and administrative expenses.
Wildhorse Industries carries no inventories. Its product is manufactured only when a customer's order is received. It is then shipped immediately after it is made. For its fiscal year ended October 31, 2022, Wildhorse's break-even point was $1.37 million. On sales of $1.18 million, its income statement showed a gross profit of $189,400, direct materials cost of $402,000, and direct labor costs of $505,000. The contribution margin was $153,400, and variable manufacturing overhead was $51,000. (a) Calculate the following: 1 Variable selling and administrative expenses. $ 2 3. Fixed manufacturing overhead. Fixed selling and administrative expenses.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Wildhorse Industries carries no inventories. Its product is manufactured only when a customer's order is received. It is then shipped
immediately after it is made. For its fiscal year ended October 31, 2022, Wildhorse's break-even point was $1.37 million. On sales of
$1.18 million, its income statement showed a gross profit of $189,400, direct materials cost of $402,000, and direct labor costs of
$505,000. The contribution margin was $153,400, and variable manufacturing overhead was $51,000.
(a)
Calculate the following:
1
2
3.
Variable selling and administrative expenses. $
Fixed manufacturing overhead.
Fixed selling and administrative expenses.
$
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