Answer:
Sales revenue 392,500
Sales returns and allowances (20,000)
Sales discounts <u> (8,600) </u>
Net Sales: 363,900
COGS (221,000)
Gross Profit 142,900
Freight-out (9,700)
Salaries and wages expense (63,400)
Rent expense (33,500)
Insurance expense <u> (14,600) </u>
Earnings before taxes 21,700
Income tax expense <u> (4,900) </u>
Operating income 16,800
OCI <u> 2,000 </u>
Net Income 18,800
Explanation:
First we solve for net sales.
Then we subtract COGS for Gross profit.
THen we subtract hte expenses and get hte earnings before taxes.
Next the inome tax expense and operationg income
then we put htis along with OCI for thenet income of the period.
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
1)
A) Absorption costing captures all product costs (direct labor, direct material, manufacturing overhead) to each unit of a product produced during the period. It includes variable and fixed cost.
Absorption cost= Direct material used + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead
B) Income statement:
Revenue/Sales (+)
Cost of Goods Sold (COGS) (-)
=Gross Profit
Marketing, Advertising, and Promotion Expenses (-)
General and Administrative (G&A) Expenses (-)
=EBITDA
Depreciation & Amortization Expense (-)
=Operating Income or EBIT
Interest (-)
Other Expenses (-)
=EBT (Pre-Tax Income)
Income Taxes (-)
=Net Income
2)
A) Variable costing= Direct material used + Direct labor + Variable manufacturing overhead + variable selling and administrative
B) Income statement
Sales
Cost of good sold (-)
Contribution margin
Fixed costs (-)
Depreciation expense (-)
Interest (-)
Net operating profit
Tax (-)
Net profit
Answer:
Marketing objectives are actionable targets designed to provide not just overall direction, but clear and specific actions. They are specific, measurable, attainable, relevant, and time-based (These are often called SMART goals, an acronym you've likely heard before!)
Answer:
A) Proposal A= 6875 units
B) Proposal B= 6818 units
Explanation:
Giving the following information:
Two vendors have presented proposals.
Proposal A:
Fixed costs= $55000.
Variable cost= $ 14.00.
Proposal B:
Fixed cost= $75000.
Variable cost= $11.00
The revenue generated by each unit is $ 22.00
Break-even point= fixed costs/contribution margin
A) Proposal A= 55000/(22-14)= 6875 units
B) Proposal B= 75000/(22-11)= 6818 units