Answer:
$22,050 favorable
Explanation:
The computation of the fixed overhead product - volume variance is shown below:
Fixed overhead volume variance is
= Actually applied amount - the budgeted amount
= ($239,400 ÷ 38,000 units × $41,500) - ($239,400)
= $261,450 - $239,400
= $22,050 favorable
We simply applied the above formula so that the fixed overhead product - volume variance could come
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Answer:
The common size percentage for the cost of goods sold is 48.05%
Explanation:
The profit margin reflects a company's overall ability to turn income into profit, is calculated by formula:
Profit margin = Net income/Net sales
Delmont movers has a profit margin of 6.2 percent and net income of $48,900
Net sales of the company = Net income/Profit margin = $48,900/6.2% = $788,709.68
The cost of goods sold amounted to $379,000.
The common size percentage for the cost of goods sold = (The cost of goods sold/Net sales) x 100% = ($379,000/$788,709.68) x 100% = 48.05%