Adjusting entries to record expenses incurred in the current period, that will be paid in a future period, is described as

Direct materials $ 37 per unit Fixed manufacturing overhead costs $ 225,000 Sales price $ 195 per unit Variable manufacturing ov

mina [271]

Answer:

A.Gross Margin $385,550

B. Contribution margin $566,500

Explanation:

a. Preparation of a gross margin income statement

Gross margin income statement

Sales 1,072,500

(5500*$ 195 per unit)

Less Variable expenses:

Direct Material 198,000

(5500*36)

Direct Labour 143,000

(5500*26)

Variable manufacturing overhead 121,000

(5500*22)

Fixed Manufacturing overhead 224,950

(5500*40.90)

(225,000/5500=40.90)

Gross Margin $385,550

Therefore Gross Margin will be $385,550

b. Preparation of a contribution margin income statement.

Contribution margin income statement

Sales 1,072,500

(5500*$ 195 per unit)

Less cost of goods sold:

Direct Material 198,000

(5500*36)

Direct Labour 143,000

(5500*26)

Variable manufacturing overhead 121,000

(5500*22)

Variable Marketing and administrative cost 44,000

(5500*8)

Contribution margin $566,500

Therefore Contribution margin will be $566,500

6 0

3 years ago

When was the Fair Labor Standards Act (FLSA) established?

Snezhnost [94]

Answer:

The Fair Labor Standards Act was established in 1938.

6 0

3 years ago

Larimer Corporation prepares its financial statements in accordance with IFRS. Larimer acquired equipment by issuing 5,000 share

Serggg [28]

Answer:

It should be reported in the notes to the financial statements as a noncash transaction

Explanation:

8 0

4 years ago

A college professor wants to know if the university students in the Unites States will find the new textbook that he has authore

alexdok [17]

Answer:

Judgment sampling

Explanation:

Is a non-probability sampling techinque where the researcher selects units to be sampled based on his own existing knowledge, or his profesional judgment.

8 0

3 years ago

Billy's Hamburger Barn has a single drive-up window. Currently, there is one attendant at the window who takes the order (20

Umnica [9.8K]

Answer:

The map of the current process is found in the attached

The minimum cycle time is 1 min 40 seconds

The longest cycle time is 2 min 35 seconds

The new minimum cycle is 1 min 15 seconds

The new longest cycle time is 2 mins

The potential problem that could surface from splitting the process is that once the customer has finished paying the customer has to wait for about 30 to 55 seconds before the second attendant finishes with packaging,hence ,a queue would likely be formed awaiting the second attendant.

The problem could be solved by ensuring the taking money and packaging takes the same time.

Explanation:

Minimum cycle time=20+55+25=100 seconds=1 minute 40 seconds

The longest cycle time=30+90+35=155 seconds=2 min 35 seconds

The new minimum cycle time=20+55=75 seconds=1 min 15 seconds

Taking customer's money also happened in the first 35 seconds of the 55 seconds above.

The new longest cycle time=30+90=120 seconds=2 mins

Download xlsx

6 0

3 years ago