The income statement for the RUN-84979 company, an atletic shoe retailer, for the first quarter of the year is presented below: RUN-84979 Income Statement Sales $151,200 54,600 96,600 Cost of goods sold Gross margin Selling and administrative expenses Selling Administration $45,400 29,096 74,496 Net operating income $ 22,104 On average, an athletic shoe sells for $72. Variable selling expenses are $14 per athletic shoe, and the remaining selling expenses are fixed. The variable administrative expenses are 8% of sales with the remainder being fixed. How much is the total contribution margin for RUN-84979 for the first quarter?
Q: Hamby Inc. has sales of $2,015,000 for the first quarter of 2017. In making the sales, the company…
A: Income statement: The financial statement which reports revenues and expenses from business…
Q: contribution margin per unit ?
A: Contribution margin per unit = (Sale price per unit - Variable cost per unit)
Q: Pollux Company had the following income statement for last year: Sales $360,000 Less: Cost of…
A: A ratio that shows the relationship between investments and net income of company is known as return…
Q: Walthman Industries Inc. employs seven salespersons to sell and distribute its product throughout…
A: Contribution Margin = Total Sales - Variable Cost of Goods Sold - Variable Selling Expenses Variable…
Q: Vargross Company presented the following data for analysis affecting its gross profit. The company…
A: Variance: A cost variance is the difference between the amount of cost that was actually incurred…
Q: The following income statement was drawn from the records of Munoz, a merchandising firm: MUNOZ…
A: Contribution Margin = Sales - Variable Costs Net Income = Contribution margin - Fixed costs…
Q: The condensed product-line income statement for Dish N' Dat Company for the month of May is as…
A: Variable Cost of goods sold = $20600 ×(1-0.15) = $17510 Variable selling and admin expenses =…
Q: Bolka Corporation, a merchandising company, reported the following results for October: Sales…
A: The gross margin is the excess of revenue of cost of goods sold. It reflects how much margin is…
Q: Wright & Boyle Inc. had the following income statement for the month of May: Sales revenue…
A: Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…
Q: Hernando Manufacturing, Inc. reported the following information for the year: Number of Units…
A: Unit Product Cost = Cost of Goods Manufactured / Number of Units Produced
Q: ollux Company had the following income statement for last year: Sales $360,000 Less: Cost of…
A: Gross profit margin is one of a profitability ratio which helps management to identify or analyze…
Q: An income statement for Sam's Bookstore for the first quarter of the year is presented below:…
A: The metric, also known as dollar contribution per unit, illustrates how a single product contributes…
Q: The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the…
A: A traditional income statement shows the profit or loss during an accounting period.The profit or…
Q: Hamby Inc. has sales of $2,000,000 for the first quarter of 2017. In making the sales, the company…
A: CVP is contribution margin based income statement in which first variable costs are deducted for…
Q: Vargross Company presented the following data for analysis affecting its gross profit. The company…
A: 1. Tota Gross Profit Variance = Actual gross profit - Budgeted gross profit Actual gross profit…
Q: Determine the contribution margin ratio (round to 3 decimal places if applicable). a) 0.518
A: Calculating contribution lets the organisation knows whether the revenue has recovered the variable…
Q: The following income statement was drawn from the records of Campbell, a merchandising firm:…
A: Contribution Margin = Sales revenue - Variable expenses Net Income = Contribution Margin - Fixed…
Q: East Mullett Manufacturing earned operating income last year as shown in the following income…
A: Average operating assets = (beginning operating assets + ending operating assets ) / 2 Residual…
Q: Dish N' Dat Company Product-Line Income Statement For the Month Ended May 31 Bowls Plates Cups Sales…
A: Discontinued operations describes a part of a firm's operations that have been divested or shut…
Q: ABC reported the following data for its first year of operations: Net sales $2,800 Cost of goods…
A: The gross profit ratio indicates the level of profit earned by the company on the net sales. It can…
Q: he contribution margin for Sam's Bookstore for the first quarter is:
A: Contribution margin: Contribution is the excess of sales price over the variable expenses incurred…
Q: Flamengo Co is a sporting goods manufacturing. Last year, report the following Income Statement:…
A: Cost of goods sold exhibits direct cost incurred by company for producing goods and services.
Q: East Mullett Manufacturing earned operating income last year as shown in the following income…
A: Average Operating Assets = (Beginning Operating Assets + Ending Operating Assets)/2 Margin = Net…
Q: Required: Compute the overall increase or decrease in the net operating income of Northern Stores…
A: Computation of overall increase or decrease in net operating income of northern stores if store 1 is…
Q: The following income statement was drawn from the records of Munoz, a merchandising firm: MUNOZ…
A: A contribution margin income statement in which all variable expenses are deducted from the sales…
Q: Product-Line Income Statement For the Month Ended October 31 Hats Mufflers Gloves $88,700 (31,800)…
A: While performing a differential analysis, we need to ignore the fixed costs as the fixed costs will…
Q: The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the…
A: The Business organizations compile income statements in order to determine how much gross profit or…
Q: The Multi-step Income Statement Dino Company, a merchandising firm, reports the following data for…
A: Income statement is one of the financial statement which is used for reporting the financial…
Q: Vargross Company presented the following data for analysis affecting its gross profit. The company…
A: SOLUTION FORMULAS 1- SALES PRICE VARIANCE = (CURRENT YEAR SELLING PRICE - LAST YEAR SELLING…
Q: FRANCORPIS a large retailer of automobiles floor mats. An income statement for the most recent…
A: Total variable cost is the sum of all variable costs related to the cost of products sold within a…
Q: Flamengo Co is a sporting goods manufacturing. Last year, report the following Income Statement:…
A: Turnover refers to the total amount of sales build up by a business in a particular period of time.…
Q: Determine the amount of sales (units) that would be necessary under Break-Even Sales Under Present…
A: As the question has more than 3 sub-parts, the first 3 subparts are answered. If you want the answer…
Q: he condensed product-line income statement for Dish N’ Dat Company for the month of May is as…
A: Variable costs: These are the type of costs that changes with the change in the level of activity.
Q: The following is Cullumber Company’s income statement for the past year. Sales revenue $336,000…
A: Gross margin % = (Gross margin / Sales) x 100 = (201,600/336,000)*100 = 60%
Q: The income statement for the RUN-28769 company, an atletic shoe retailer, for the first quarter of…
A: Contribution Margin = Sales - Variable Cost As the Run-28769 company is an athletic shoe retailer,…
Q: Monfett Manufacturing earned operating income last year as shown in the following income statement:…
A: Average operating assets = (beginning operating assets + ending operating assets) / 2 =…
Q: The condensed product-line income statement for Rhinebeck Company for the month of October is as…
A: Differential analysis is an analysis used calculate incremental change in revenues , costs and…
Q: Dior Merchandising Company maintains a markup of 60% based on Sales. The company’s selling and…
A: Mark up = ( Sales price - Cost of purchasing the merchandise) Operating profit = Mark up Amount -…
Q: The MER-92566 merchandising company reported the following information for last year: Amount 24…
A: Contribution margin per unit = Selling price - Variable cost per unit
Q: Todrick Company is a merchandiser that reported the following information based on 1,000 units sold:…
A: Hi student Since there are multiple questions, we will answer only first question. If you want…
Q: The Sterling Tire Company’s income statement for 20X1 is as follows: STERLING TIRE COMPANY…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: J Bryant, Ltd. is a local coat retailer. The store's accountant prepared the following income…
A: The income statement is prepared to find the net income or loss during the period.
Q: The condensed product-line income statement for Rhinebeck Company for the month of October is as…
A:
Q: Salespersons' Report and Analysis Walthman Industries Inc. employs seven salespersons to sell and…
A: Variable cost means the cost which vary with the level of output and fixed cost means the cost which…
Q: Coronado, Ltd. is a local coat retailer. The store’s accountant prepared the following income…
A:
Q: Todrick Company is a merchandiser that reported the following information based on 1,000 units sold:…
A: Hi student Since there are multiple subparts, we will answer only first three sub parts. If you want…
Q: Todrick Company is a merchandiser that reported the following information based on 1,000 units sold:…
A: Note: As per the policy, we are supposed to solve the first three sub-parts. Kindly repost the…
Q: The following information has been provided by the Rose Toiletries. Co Ltd. for the Second quarter…
A: Net operating Income Net operating income means the operating income before interest and taxes.…
Step by step
Solved in 2 steps
- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. TannenhillCompany ElectronicsIndustryAverage Sales $2,540,000 100 % Cost of merchandise sold 1,473,200 63 Gross profit $1,066,800 37 % Selling expenses $660,400 22 % Administrative expenses 254,000 9 Total operating expenses $914,400 31 % Income from operations $152,400 6 % Other revenue and expense: Other revenue 50,800 2 Other expense (25,400) 1 Income before income tax expense $177,800 7 % Income tax expense 76,200 4 Net income $101,600 3 % Question Content Area a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter…Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. TannenhillCompany ElectronicsIndustryAverage Sales $4,000,000 100.0 % Cost of merchandise sold 2,120,000 60.0 Gross profit $1,880,000 40.0 % Selling expenses $1,080,000 24.0 % Administrative expenses 640,000 14.0 Total operating expenses $1,720,000 38.0 % Income from operations $160,000 2.0 % Other revenue and expense: Other revenue 120,000 3.0 Other expense (80,000) 2.0 Income before income tax expense $200,000 3.0 % Income tax expense 80,000 2.0 Net income $120,000 1.0 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Enter all amounts as positive numbers.…
- Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. Electronics Tannenhill Industry Company Average $1,390,000 100 % Sales 736,700 59 Cost of merchandise sold $653,300 41 % Gross profit $417,000 25 % Selling expenses Administrative expenses 152,900 10 Total operating expenses $569,900 35 % Income from operations $83,400 6 % Other revenue and expense: Other revenue 27,800 2 Other expense (13,900) 1 Income before income tax expense $97,300 7 % Income tax expense 41,700 Net income $55,600 2 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. econ.docx Show all Type here to search 6:05 AM 59 F 局 10/30/2021 12 prt sc 00 5.Common-Sized Income Statement Revenue and expense data for the current calendar year for Sorenson Electronics Company and for the electronics industry are as follows. Sorenson Electronics Company data are expressed in dollars. The electronics industry averages are expressed in percentages. SorensonElectronicsCompany ElectronicsIndustryAverage Sales $1,940,000 100 % Cost of goods sold (1,358,000) (76) Gross profit $582,000 24 % Selling expenses $(329,800) (9) % Administrative expenses (116,400) (9) Total operating expenses $(446,200) (18) % Operating income $135,800 6 % Other revenue and expense: Other revenue 38,800 4 Other expense (19,400) (3) Income before income tax $155,200 7 % Income tax expense (58,200) (5) Net income $97,000 2 % a. Prepare a common-sized income statement comparing the results of operations for Sorenson Electronics Company with the industry average. If…Wright & Boyle Inc. had the following income statement for the month of May: Sales revenue $470,800.00 Cost of goods sold 217,766.40 Gross margin $253,033.60 Less: Selling expenses 86,199.20 Administrative expenses 74,942.80 Operating income $91,891.60 What was the selling expense percent?
- The following Income statement was drawn from the records of Walton Company, a merchandising firm: sales revenue (7,500 units x $163) Cost of goods sold (7,500 units × $81) Gross margin Sales commissions (10% of sales) Administrative salaries expense Required Advertising expense Depreciation expense Shipping and handling expenses (7,500 units x $3) Net income For the Year Ended December 31, Year 1 WALTON COMPANY Income statement Req A a. Reconstruct the income statement using the contribution margin format. b. Calculate the magnitude of operating leverage. c. Use the measure of operating leverage to determine the amount of net Income Walton will earn If sales increase by 10 percent. Complete this question by entering your answers in the tabs below. Req B and C Less: Fixed costs Less: Variable costs Reconstruct the income statement using the contribution margin format. WALTON COMPANY Income Statement For the Year Ended December 31, Year 1 S $1,222,500 (607,500) 615,000 (122,250)…Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. TannenhillCompany ElectronicsIndustryAverage Sales $2,740,000 100 % Cost of goods sold 1,753,600 69 Gross profit $986,400 31 % Selling expenses $602,800 18 % Administrative expenses 219,200 7 Total operating expenses $822,000 25 % Operating income $164,400 6 % Other revenue 54,800 2 $219,200 8 % Other expense 27,400 1 Income before income tax $191,800 7 % Income tax expense 82,200 5 Net income $109,600 2 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive…Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. TannenhillCompany ElectronicsIndustryAverage Sales $4,000,000 100.0 % Cost of goods sold (2,120,000) (60.0) Gross profit $1,880,000 40.0 % Selling expenses $(1,080,000) (24.0) % Administrative expenses (640,000) (14.0) Total operating expenses $(1,720,000) (38.0) % Operating income $160,000 2.0 % Other revenue and expense: Other revenue 120,000 3.0 Other expense (80,000) (2.0) Income before income tax expense $200,000 3.0 % Income tax expense (80,000) (2.0) Net income $120,000 1.0 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the…
- A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd.Comparative Income Statement This Year Last Year Sales $ 7,340,000 $ 5,578,400 Cost of goods sold 4,730,000 3,511,500 Gross margin 2,610,000 2,066,900 Selling and administrative expenses: Selling expenses 1,375,000 1,079,500 Administrative expenses 711,500 615,000 Total expenses 2,086,500 1,694,500 Net operating income 523,500 372,400 Interest expense 101,000 91,000 Net income before taxes $ 422,500 $ 281,400 Members of the company’s board of directors are surprised to see that net income increased by only $141,100 when sales increased by $1,761,600. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) McKenzie Sales, Ltd.Comparative Income…A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd.Comparative Income Statement This Year Last Year Sales $ 7,340,000 $ 5,578,400 Cost of goods sold 4,730,000 3,511,500 Gross margin 2,610,000 2,066,900 Selling and administrative expenses: Selling expenses 1,375,000 1,079,500 Administrative expenses 711,500 615,000 Total expenses 2,086,500 1,694,500 Net operating income 523,500 372,400 Interest expense 101,000 91,000 Net income before taxes $ 422,500 $ 281,400 Members of the company’s board of directors are surprised to see that net income increased by only $141,100 when sales increased by $1,761,600. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) This Year Last Year Sales %…The condensed product-line income statement for Dish N’ Dat Company for the month of May is as follows: Dish N’ Dat Company Product-Line Income Statement For the Month Ended May 31 1 Bowls Plates Cups 2 Sales $70,960.00 $105,450.00 $31,760.00 3 Cost of goods sold 32,990.00 42,680.00 16,710.00 4 Gross profit $37,970.00 $62,770.00 $15,050.00 5 Selling and administrative expenses 27,350.00 42,530.00 16,670.00 6 Income from operations $10,620.00 $20,240.00 $(1,620.00) Fixed costs are 30% of the cost of goods sold and 50% of the selling and administrative expenses. Dish N’ Dat assumes that fixed costs would not be materially affected if the Cups line were discontinued. Required: A. Prepare a differential analysis dated May 31 to determine if Cups should be continued (Alternative 1) or discontinued (Alternative 2). Refer to the lists of Labels and Amount Descriptions for…