Waltham 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 Case Dix Johnson La Fave Orcas Sussman Willbond Required: Total Sales $571,000 372,000 410,000 482,000 403,000 448,000 623,000 Case Dix Variable Cost of Goods Sold Salesperson Contribution Margin $216,980 178,560 180,400 197,620 217,620 201,600 199,360 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. Variable Selling Expenses $108,490 59,520 53,300 106,040 84,630 94,080 124,600 Salespersons' Analysis For the Year Ended December 31 % Variable Cost of Goods Sold as a Percent of Sales % Variable Selling Expenses Contribution Margin as a Percent of Sales % % Ratio % %

Waltham 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 Case Dix Johnson La Fave Orcas Sussman Willbond Required: Total Sales $571,000 372,000 410,000 482,000 403,000 448,000 623,000 Case Dix Variable Cost of Goods Sold Salesperson Contribution Margin $216,980 178,560 180,400 197,620 217,620 201,600 199,360 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. Variable Selling Expenses $108,490 59,520 53,300 106,040 84,630 94,080 124,600 Salespersons' Analysis For the Year Ended December 31 % Variable Cost of Goods Sold as a Percent of Sales % Variable Selling Expenses Contribution Margin as a Percent of Sales % % Ratio % %

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter21: Variable Costing For Management analysis

Section: Chapter Questions

Problem 4PB: Salespersons report and analysis Pachec Inc. employs seven salespersons to sell and distribute its...

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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 $349,000 $115,170 $69,800 Dix 346,000 138,400 55,360 Johnson 588,000 217,560 76,440 LaFave 533,000 202,540 90,610 Orcas 557,000 245,080 72,410 Sussman 344,000 196,080 72,240 Willbond 408,000 159,120 61,200 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 Salesperson…
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: Total Sales Variable Cost of Goods Sold Variable Selling Expenses Salesperson Case $610,000 $268,400 $109,800 Dix 603,000 241,200 96,480 Johnson 588,000 305,760 105,840 LaFave 586,000 281,280 123,060 Orcas 616,000 221,760 86,240 Sussman 620,000 310,000 124,000 Willbond 592,000 272,320 88,800 Instructions 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 whole percent. 2. - Which salesperson generated the highest contribution margin ratio for the year and why? 3. Briefly list factors other than contribution margin that should be considered in evaluating the performance of salespersons.
The following data was taken from the general ledger and other records of Martinez Manufacturing Co. on July 31, the end of the first month of operations in the current fiscal year: Sales.........$50,000; Materials inventory (July 01)......15,000; Work in process inventory (July 01)..... 20,000; Finished goods inventory (July 01).......28,000; Materials purchased ...... 21,000; Direct labor.....12,500; Factory overhead (including $5,000 of indirect materials used and $2,500 of indirect labor cost).....11,500; Selling and Adminstrative expense.....8,000; Inventories on July 31: Materials.....16,000; Work in Process.....18,000; Finished good.....30,000 QUESTION: a) Prepare a statement of cost of goods manufactured b) determine the cost of goods sold for the month.
Jung Corporation operates in States A and B as indicated below. All goods are manufactured in State A. Both states follow the UDITPA and the MTC regulations in this regard. When computing Jung's sales factor for the year, the sales to be assigned to State A is $340,000 and to State B is ________
The following data are taken from the general ledger and other records of Phoenix Products Co. on October 31, the end of the first month of operations in the current fiscal year: a. Prepare a statement of cost of goods manufactured. b. Prepare the cost of goods sold section of the income statement.
The following data are taken from the general ledger and other records of Coral Park Production Co. on January 31, the end of the first month of operations in the current fiscal year: a. Prepare a statement of cost of goods manufactured. b. Prepare the cost of goods sold section of the income statement.
The following data were taken from the general ledger and other data of McDonough Manufacturing on July 31: Compute the cost of goods sold for the month of July.
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: Instructions 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 whole percent to one digit after decimal point.) 2. Which salesperson generated the highest contribution margin ratio for the year and why? 3. Briefly list factors other than contribution margin that should be considered in evaluating the performance of salespersons.
Sellall Department Stores reported the following amounts as of its December 31 year-end: Administrative Expenses, $1,800; Cost of Goods Sold, $19,440; Income Tax Expense, $2,790; Interest Expense, $1,400; Interest Revenue, $160; General Expenses, $2,000; Net Sales, $32,580; and Delivery (freight-out) Expense, $240.Prepare a multistep income statement for distribution to external financial statement users.
Sellall Department Stores reported the following amounts as of its December 31 year- end: Administrative Expenses, $1,800; Cost of Goods Sold, $19,440; Income Tax Expense, $2,790; Interest Expense, $1,400; Interest Revenue, $160; General Expenses, $2,000; Net Sales, $32,580; and Delivery (freight-out) Expense, $240. Prepare a multistep income statement for distribution to external financial statement users. SELLALL DEPARTMENT STORES Income Statement
The following income statement was drawn from the records of Munoz, a merchandising firm: MUNOZ COMPANY Income Statement For the Year Ended December 31 Sales revenue (6,500 units x $164) Cost of goods sold (6,500 units x $82) Gross margin Sales commissions (5% of sales) Administrative salaries expense Advertising expense Depreciation expense Shipping and handling expenses (6,500 units x $3) $1,066,000 (533,000) 533,000 (53,300) (83,000) (33,000) (41,000) (19,500) $ 303,200 Net income Required 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 Munoz will earn if sales increase by 10 percent. Complete this question by entering your answers in the tabs below. Req A Req B and C Reconstruct the income statement using the contribution margin format. MUNOZ COMPANY Income Statement For the Year Ended December 31 Less: Variable costs Less: Fixed…
The following income statement was drawn from the records of Munoz, a merchandising firm: MUNOZ COMPANY Income Statement For the Year Ended December 31 Sales revenue (6,500 units x $164) Cost of goods sold (6,500 units x $82) Gross margin Sales commissions (5% of sales) Administrative salaries expense Advertising expense Depreciation expense Shipping and handling expenses (6,500 units x $3) $1,066,000 (533,000) 533,000 (53,300) (83,000) (33,000) (41,000) (19,500) 8:02 Net income $303,200 nt Required 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 incoome Munoz will earn if sales increase by 10 percent. int Complete this question by entering your answers in the tabs below. Req A Req B and C Reconstruct the income statement using the contribution margin format. MUNOZ COMPANY Income Statement For the Year Ended December 31 Less: Variable costs…