Number of units sold 20,000 Selling price per unit Variable selling expense per unit Variable administrative expense per unit Fixed administrative expenses $ 30 $3.40 $ 2.40 $50,000 Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $24,000 $ 19,000 $340,000 What is the contribution margin?

Q: Mr.Vaase has the details about his firm :No of units sold 20,000, Selling price per unit 30 Variable…

A: Cost of goods sold is the direct costs of production of goods where it includes materials, labor…

Q: Sales $ 150,000 $ 550,000 $ 38,700 $ 255,700 Sales discounts 5,000 17,500 600 4,800 Sales returns…

A: Formula: Gross profit = Net sales - Cost of goods sold

Q: Net Sales $336,500 Cost of Goods Sold $132,200 $ Gross Margin ($) Operating Expenses $109,000 $ Net…

A: Net profit is the amount of sales revenue left after paying all the operating expenses incurred…

Q: Sales $ 435,000 Beginning merchandise inventory $ 29,000 Purchases $ 290,000 Ending merchandise…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: For the next questions, please refer to the given data: UNIT UC Total Cost November 1 Balance 20,000…

A: Under weighted average method, the goods are sold on the basis of average cost of all the units…

Q: NRP Toys sold 275,000 units at P37.50 per unit Variable cost=P17.50 pu (Mfg cost=14, Selling…

A: Breakeven sales quantity: =Fixed cost / Contribution per unit Cash breakeven sales quantity: =Cash…

Q: Sales $ 435,000 Variable expenses: Cost of goods sold $ 304,500 Administrative expense 21,750…

A: The income statement is referred to as a statement of operations, a profit and loss statement, or a…

Q: Sales Variable cost of goods sold: Variable cost of goods manufactured Inventory, July 31 ✔ Total…

A: A variable cost income statement is a reporting tool. With this report, the owner can understand the…

Q: Comparative Monthly Income Statenents March April 5,200 $696,80e 368,200 328,600 May 5,950 $797, 300…

A: The equations given in first part provides that COGS, shipping and Salaries and commission are mixed…

Q: Find the gross margin percent when: Gross sales 435,000 Customer returns and allowances 49,000…

A: Net Sales = Gross Sales - Customer returns and allowances = 435,000 - 49,000 = 386,000   Gross…

Q: Number of units sold 12,000 Selling price per unit $ 15 Variable selling expense per unit $ 2…

A: Traditional income statement is the one which firstly computes the gross profit and then the net…

Q: Cost of goods sold $70,000 Insurance Expense $5,000 Freight-out 4,000 Sales Revenue 184,000 Interest…

A: Income statement is the financial statement that  shows revenue and expenditure incurred by a…

Q: Traditional and Contribution Format Income Statements Cherokee Inc. is a merchandiser that provided…

A: Income Statement is the statement which is prepared to calculate the profit of the business. There…

Q: HWGMOF373 Corp has the following data: Unit selling price Unit variable expenses (ID#72095) Total…

A: The margin of safety is the excess value of sales over the break-even sales. It can be calculated by…

Q: QUESTION 8 Assume the following information for a merchandising company: $ 24,000 Net operating…

A:

Q: Daily Revenue and Cost Name of Business: Projected Projected Volume Revenue Projected Cost Mark-up…

A: The mark up value added to the cost of the product in order to compute the selling price. Selling…

Q: Net sales revenue $280,000 Cost of goods sold 120,000 Beginning inventory 5,000 Ending…

A: Gross Profit is computed by subtracting the cost of goods sold from the sales revenue. Gross Profit…

Q: Required: 1. Calculate the unit sales needed to attain a target profit of $4,750 (Do not round…

A: The Break-even point is the point where the company is able to cover all its costs but does not make…

Q: 15. Sales revenue Cost of goods sold Sales discounts P480,000 300,000 20,000 15,000 Sales returns…

A: Net Sales means sales revenue after deducting all the sales discounts and sales returns, allowances…

Q: Sales (18,000 units) Variable expenses Contribution margin Fixed expenses $ 360,000 144,eee 216,000…

A: CM ratio is calculated as ratio of contribution margin and sales

Q: Assume the following information for a merchandising company: Number of units sold Selling price per…

A: Variable expenses are the expenses that keeps on changing with the change in the activity level or…

Q: Sales (42,000 units) Variable expenses $ 294,000 168,000 $ 7.00 4.00 Contribution margin Fixed…

A: Operating income refers to the earnings made by the entity after deducting the total operating…

Q: Use this income statement to answer the following questions. Sales ($50 per unit) $5,000 Less: Cost…

A: Answer 1 Suppose Units Are= X CALCULATION PARTICULAR AMOUNT       A Sale value 50 X B COGS…

Q: Cost of good sold is US$ 30,000: Target ending inventory US$8,000; beginning inventory is US$10,000.…

A: budgeted purchase is the purchase needed to have a target inventory and use of inventory as cost of…

Q: Number of units sold: 160,000 units average inventory: 5,000 units revenues: $700,000 cost of…

A: SOLUTION- 1                                                      INVENTORY TURNOVER RATIO FORMULA=…

Q: Retail Cost 500,000.00 1,285,000.00 Inventory, 12/31/2021 725,000.00 Purchases 2,220,000.00 Purchase…

A: The conventional retail inventory method refers to a method mostly calculated to estimate ending…

Q: Data     Sales $12,000   Variable costs:     Cost of goods sold $6,000   Variable selling $600…

A: Income Statement is the part of financial statement which shows the income earned and expenditure…

Q: Cherokee Inc. is a merchandiser that provided the following information: Amount 12,000 $ $ 2$ $…

A: SOLUTION- FORMULA- NET INCOME =REVENUE - EXPENSES. DEDUCTION OF EXPENSES FROM REVENUES DERIVES THE…

Q: Sales (3,100 units) Cost of goods sold: Cost of goods manufactured (3,700 units) Inventory, April 30…

A: The income statement can be prepared using various methods as variable costing and absorption…

Q: $100,000 favorable 45,000 unfavorable 25,000 unfavorable On target $1,400,000 665,000 Sales Variable…

A: ROI (return on investment) -  Return on investment can be defined as the ratio between net income…

Q: 16. Given the following information, calculate the gross margin %: Retail Cost $144,900.00…

A: Retail Inventory Method In the Retail Inventory method which given the details of the cost and…

Q: Sales (18,000 units) Variable expenses Contribution margin Fixed expenses $ 360,000 144,000 216,000…

A: Formula: Contribution margin ratio = ( Contribution margin / Sales revenue ) x 100

Q: 1. ABC produces and sells one product. Data concerning that product appear below: Selling price per…

A: Sales revenue that target profit is attained is the amount of sales at which business is recovering…

Q: Sales per unit P15.00 Variable production cost 8.00 Annual fixed production cost 35,000.00 Variable…

A: A cost sheet typically records various components of total cost for a product or a process incurred…

Q: Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: get profit )+ CM ratio Required sales in dollars 33,000 ) + 60.00 % 1,027,000

A: The contribution margin is computed by subtracting the variable cost from the sale revenue. The…

Q: Restate the following income statement in contribution margin format. (Round answers to 2 decimal…

A: Step 1 A contribution margin income statement is an income statement in which all variable expenses…

Q: How much is the gross profit? 89,000 82,000 99,000 94,000 How much is the cost of goods sold?…

A: Net Sales = Sales - Sales Discount - Sales Returns = 230000 - 7000 - 15000 = 208000 Ending Inventory…

Q: A merchandiser that provided the following information: Number of units sold 20,000 Selling price…

A: Contribution margin can be found out by subtracting the total sales made with cost of goods sold and…

Q: For the next questions, please refer to the given data: UNIT UC Total Cost November 1 Balance 20,000…

A: Cost of goods sold is arrived at by adding up opening inventory with purchases and then sales and…

Q: 9. Muscat company, reported the following results for January: Number of units 10,000 $10 Selling…

A: Option A is correct

Q: Given the following partial income statement informatic Sales $40,000 Less: Sales discounts (a)…

A: Net sales = Sales - Sales Discount - Sale return and allowances Sales Discount = Sales  - Sale…

Q: Selling price per unit              $      100 Variable expenses per unit     $        40 Fixed…

A: In the contribution margin income statement, we need to deduct all the variable expenses from the…

Q: Calculate Net Profit in dollars.

A: Information Provided: Total sales = $1,500,000 Gross profit = 40% of Sales Payroll Costs = $257,000…