Philadelphia Company has the following information for March: Sales $487,491 Variable cost of goods sold 213,248 Fixed manufacturing costs 75,006 Variable selling and administrative expenses 50,161 Fixed selling and administrating expenses 38,910 Determine the March: a. Manufacturing margin $fill in the blank 1 b. Contribution margin $fill in the blank 2 c. Operating income for Philadelphia Company $fill in the blank 3

Philadelphia Company has the following information for March: Sales $487,491 Variable cost of goods sold 213,248 Fixed manufacturing costs 75,006 Variable selling and administrative expenses 50,161 Fixed selling and administrating expenses 38,910 Determine the March: a. Manufacturing margin $fill in the blank 1 b. Contribution margin $fill in the blank 2 c. Operating income for Philadelphia Company $fill in the blank 3

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter3: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 4PB: West Island distributes a single product. The companys sales and expenses for the month of June are...

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Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
West Island distributes a single product. The companys sales and expenses for the month of June are shown. Using the information presented, answer these questions: A. What is the break-even point in units sold and dollar sales? B. What is the total contribution margin at the break-even point? C. If West Island wants to earn a profit of $21,000, how many units would they have to sell? D. Prepare a contribution margin income statement that reflects sales necessary to achieve the target profit.
Use the following information for Exercises 2-47 through 2-49. Jasper Company provided the following information for last year: Last year, beginning and ending inventories of work in process and finished goods equaled zero. Exercise 2-49 Income Statement Refer to the information for Jasper Company on the previous page. Required: 1. Prepare an income statement for Jasper for last year. Calculate the percentage of sales for each line item on the income statement. (Note: Round percentages to the nearest tenth of a percent.) 2. CONCEPTUAL CONNECTION Briefly explain how a manager could use the income statement created for Requirement 1 to better control costs.
Arthur's Plumbing reported the following:Revenues $4,500Variable manufacturing costs $ 900Variable nonmanufacturing costs $ 810Fixed manufacturing costs $ 630Fixed nonmanufacturing costs $ 545Required:a. Compute contribution margin. b. Compute contribution margin percentage. c. Compute gross margin. d. Compute gross margin percentage. e. Compute operating income.
Sales Total manufacturing cost Administrative expenses Selling expenses Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Compute the net income for the year. 820,000 456,000 80,000 41,000 50,000 150,000 20,000 40,000
The following particulars are extracted from the records of a company. Product A Product B Sales (per unit) RO. 100 RO. 120 Consumption of material Material cost 2 kg 3 kg RO. 10 RO. 15 Direct wages cost RO. 15 RO. 10 Direct expenses RO. 5 RO. 6 Machine hours used 3 Overhead expenses: Fixed 10 Variable 15 20 Direct wage per hour is RO.5. Comment on the profitability of each product (both use the same raw material) when: (i) Total sales potential in units is limited Production capacity (in terms of machine hours) is the limiting factor. Material is in short supply (ii) (iv) Sales potential in value is limited.
To better match cost to revenues Lewisville Corporation distributes its service department overhead costs to producing departments. Information for April is presented here. Maintenance Utilities Overhead costs incurred $18,700 $9,000 Service provided to: Maintenance Dept. 10% Utilities Dept. 20% Producing Dept. A 40% 30% Producing Dept. B 40% 60% Using the step method, how much of Lewisville's Corporation’s Utilities Department cost is allocated between Departments A and B? (order of allocation begins with Maintenance) Group of answer choices $9,900 $10,800 $12,740 $27,700 In order to better match cost with revenues, Lewisville Corporation distributes its service department overhead costs to producing departments. Information for April is presented here. Maintenance Utilities Overhead costs incurred $18,700 $9,000 Service provided to: Maintenance Dept. 10% Utilities Dept. 20%…
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Use the following data to compute total manufacturing costs for the month: Sales commissions Direct labor Indirect materials Factory utilities Indirect labor Depreciation-office equipment Direct materials Corporate office salaries Depreciation-factory equipment Multiple Choice $155,500. $136,100. $52,400. $ 12,600 41,400 17,000 10,800 15,300 6,800 42,300 44,300 9,300 < Prev Q Search 9 of 39
2: Cost Concepts Problem(Module 2, Ch. 2) i GALLUP ENTERPRISES Income Statement For the Month Ended August 31 Sales Less: Operating expenses: labour cost Utilities Direct labour cost. Depreciation, factory equipment Raw materials purchased Depreciation, sales equipment Insurance Rent on facilities. Selling and administrative salaries. Advertising Net loss Raw materials Work-in-process Finished goods August 1 August 31 $75,000 $129,000 50,000 80,000 $ 28,000 66,000 175,000 41,000 73,000 50,000 588,000 26,000 41,000 205,000 56,000 139,000 $1,348,400 The company's controller resigned a month ago. Hilda, a new assistant in the controller's office, prepared the income statement above. Hilda has had little experience in manufacturing operations. After seeing the $28,000 loss for August, Gallup's president stated, "I was sure we'd be profitable within six months, but our six months are up and this loss for August is even worse than July's. I think it's time to start looking for someone to buy…
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bartleby, a Learneo, Inc. business

Sales	$487,491
Variable cost of goods sold	213,248
Fixed manufacturing costs	75,006
Variable selling and administrative expenses	50,161
Fixed selling and administrating expenses	38,910

a. Manufacturing margin	$fill in the blank 1
b. Contribution margin	$fill in the blank 2
c. Operating income for Philadelphia Company	$fill in the blank 3