Exercise 7-4 (Algo) Basic Segmented Income Statement [LO7-4]Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost inforrelating to the products follow:Selling price per unitVariable expenses per unitTraceable fixed expenses per yearProductWeedban$11.00$ 3.00$ 130,000Greengrow$39.00$ 13.00$ 40,000Last year the company produced and sold 41,000 units of Weedban and 22,000 units of Greengrow. Its annual common fixexpenses are $114,000.Required:Prepare a contribution format income statement segmented by product lines.$TotalCompany0Product LineWeedban0 $0Greengrow0 $00

Income statement :— It is one of the financial statements that shows profitability, total revenue…

Answered: Exercise 7-4 (Algo) Basic Segmented…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Exercise 7-4 (Algo) Basic Segmented Income Statement [LO7-4] Royal Lawncare Company produces and sells two packaged products—Weedban and Greengrow. Revenue and cost information relating to the products follow: Product Weedban Greengrow Selling price per unit $ 11.00 $ 35.00 Variable expenses per unit $ 3.10 $ 11.00 Traceable fixed expenses per year $ 135,000 $ 48,000 Last year the company produced and sold 38,500 units of Weedban and 25,000 units of Greengrow. Its annual common fixed expenses are $103,000. Required: Prepare a contribution format income statement segmented by product lines.
Exercise 7-4 (Algo) Basic Segmented Income Statement [LO7-4] Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost information relating to the products follow: Selling price per unit Variable expenses per unit Traceable fixed expenses per year Product Weedban $ 11.00 $ 2.30 $ 135,000 Greengrow $30.00 $ 12.00 $ 38,000 Last year the company produced and sold 41,500 units of Weedban and 19,000 units of Greengrow. Its annual common fixed expenses are $112,000. $ Required: Prepare a contribution format income statement segmented by product lines. Total Company 0 0 0 Product Line Weedban $ 0 Greengrow 0 $ 0
Exercise 6-4 (Algo) Basic Segmented Income Statement [LO6-4] Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost information relating to the products follow: Product Selling price per unit Weedban $ 12.00 Greengrow $31.00 $ 13.00 Variable expenses per unit $ 2.90 Traceable fixed expenses per year $ 131,000 $ 38,000 Last year the company produced and sold 42,500 units of Weedban and 21,000 units of Greengrow. Its annual common fixed expenses are $105,000. Required: Prepare a contribution format income statement segmented by product lines. Product Line Total Company Weedban Greengrow Sales Variable expenses Contribution margin 0 Traceable fixed expenses Contribution margin 0 Common fixed expenses not traceable to products Net operating income $ 0 0 0 $ 0 0 $
Exercise 7-4 (Algo) Basic Segmented Income Statement [LO7-4] Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost information relating to the products follow: Selling price per unit Variable expenses per unit Traceable fixed expenses per year Product Sales Variable expenses Weedban $ 12.00 $ 2.20 $ 137,000 Last year the company produced and sold 41,000 units of Weedban and 17,500 units of Greengrow. Its annual common fixed expenses are $104,000. Contribution margin Traceable fixed expenses Product line segment margin Common fixed expenses not traceable to products Net operating income Required: Prepare a contribution format income statement segmented by product lines. Greengrow $ 34.00 $ 12.00 $ 35,000 $ Total Company Prev 0 Product Line 0 Weedban 0 $ 1 of 2 m 0 Greengrow 0 $ Next > 0 0
ouTube Maps er 1 i 05 K ces Mc Graw MU Problem 1-21 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Marwick's Planos, Incorporated, purchases planos from a large manufacturer for an average cost of $1,492 per unit and then sells them to retall customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below. Costs Selling: Advertising Sales salaries and commissions. Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: 9°F ain showers Executive salaries Insurance Clerical Depreciation of office equipment During August, Marwick's Planos, Incorporated, sold and delivered 62 planos. Required 1 Required 2 Cost Formula Required: 1. Prepare a traditional format Income statement for August. 2. Prepare a contribution format Income statement for August. Show costs and revenues on both a total and a per unit basis down through contribution margin. $933 per month $4,790…
Problem 3 (Basic Segmented Income Statement) SCG, Inc., produces and sells recordable CD and DVD packs. Revenue and cost information relating to the products follow: Product CD DVD P 25.00 P 17.50 P45,000 P. 8.00 Selling price per pack Variable expenses per pack Traceable fixed expenses per year P. 3.20 P138,000 Common fixed expenses in the company total P105,000 annually. Last year the company produced and sold 37,500 CD packs and 18,000 DVD packs. Required: Prepare a contribution format income statement for the year segmented by product lines.
Required information Exercise 5-8 (Static) Prepare a Cost-Volume-Profit (CVP) Graph [LO5-8] [The following information applies to the questions displayed below.] Karlik Enterprises distributes a single product whose selling price is $24 per unit and whose variable expense is $18 per unit. The company's monthly fixed expense is $24,000. Exercise 5-8 (Static) Part 1 Required: 1. Prepare a cost-volume-profit graph for the company using sales volumes of zero units and 8,000 units. Note: Use the line tool to draw three lines (Total Sales Revenue, Fixed Expense, Total Expense). Each line should only contain the two endpoints. For your graph to grade correctly, you must enter the exact coordinates. Once all points have been plotted, click on the line (not individual points) and a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed. To remove a line from the graph, click on the line and select delete option. $200,000 Dollars $150,000 $100,000 $50,000…
Multiproduct breakeven analysis and target profit, taxes Pursuit Company produces two products: Bric and Brac. The following table summarizes the products' details and planned unit sales for the upcoming period: Bric BrAc Sellingpriceperunt...........$S25$30 Variablecostperunit ... $14$17 Planned unit sales volume . . . . . . 800, 000 400,000 Pursuit Company has total fixed costs of $10 million and faces a tax rate of 30%. Required (a)What is Pursuit Company's expected profit at the planned level of sales? (b)Assuming a constant sales mix, what are the unit sales of Bric and Brac required for Pursuit Company to break even? (c) Assuming a constant sales mix, what are the unit sales of Bric and Brac required for Pursuit Company to earn an after-tax income of $910, 000 ?
Segment Reporting The XYZ Company produces and sells two products: The Riffs and The Raffs. Below is revenue and cost information to facilitate the development of a basic segmented income statement. Product Riffs Raffs Sales Price per unit $8.00 6.00 Variable Cost per unit $3.20 3.00 Traceable Fixed Costs $62,000 $44,000 It is expected that the company will incur $21,000 of common fixed expenses and unit sales are expected to be 12,000 of Riffs and 18,000 of Raffs. Required: Construct a Contribution Format Income Statement segmented by product line and company total.
RDWMNE769 Corp. sells a single product. Selling price per unit $12 Variable expense per unit $2.00 Current Sales in units 16,000 RDWMNE769's current net operating income is equal to 0.31 of current sales. Q. What is RDWMNE769's fixed cost? A. $
HEFIVD853 Corp. sells a single product. $15 $2.00 Selling price per unit Variable expense per unit (ID#52285) Current Sales in units 14,000 HEFIVD853's current net operating income is equal to 0.11 of current sales. Q: What is HEFIVD853's fixed cost? A: $ < Prev 14 of 25 N- MacBook Pro
Exercise 6-4 (Algo) Basic Segmented Income Statement [LO6-4] Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost information relating to the products follow: Last year the company produced and sold 35,500 units of Weedban and 24,000 units of Greengrow. Its annual common fixed expenses are $109,000. Required: Prepare a contribution format income statement segmented by product lines.

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