Evansville Company had the following transactions for the month. Number Cost of Units per Unit Purchase $8,000 Purchase 9,000 Purchase 7 9,500 Calculate the gross margin for each of the following cost allocation methods, assuming Evansville sold just one unit of these goods for $10,000. Round your intermediate calculations and final answers to the nearest dollar amount. Gross Margin A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) C. Weighted Average (AVG) When prices are rising (inflation), which costing method would produce the highest value for gross margin?

Norwood Company has the following information for July: Sales $440,000 Variable cost of goods sold 198,000 Fixed manufacturing costs 70,400 Variable selling and administrative expenses 44,000 Fixed selling and administrative expenses 26,400 Determine the following for Norwood Company for the month of July: a.  Manufacturing margin $fill in the blank 1 b.  Contribution margin $fill in the blank 2 c.  Operating income $fill in the blank 3

Assume the following information for a merchandising company: Number of units sold 20,000 Selling price per unit $ 30 Variable selling expense per unit $ 3.60 Variable administrative expense per unit $ 3.10 Fixed administrative expenses $ 50,000 Beginning merchandise inventory $ 24,000 Ending merchandise inventory $ 19,000 Merchandise purchases $ 340,000 What is the contribution margin?

The GAAP income statement for Carla Vista Company for the year ended December 31, 2022,s shows sale $930,000, cost of good sold $555,000, and operating expenses $235,000. Assuming all costs and expenses are 70% variable and 30% fixed, prepare a CVP income statement through contribution margin.

3. CONCEPTUAL CONNECTION Suppose 200,000 EERES WEIC pro sold) but that the company had a beginning finished goods inventory of 10,000 tents produced in the prior year at $40 per unit. The company follows a first-in, first-out policy for its inventory (meaning that the units produced first are sold first for purposes of cost flow). What effect does this have on the income statement? Show the new statement. Problem 2-55 Cost of Goods Manufactured, Cost of Goods Sold Hayward Company, a manufacturing firm, has supplied the following information from its ac- counting records for the month of May: Direct labor cost $10,500 Material handling $ 3,750 Purchases of raw materials 3,475 Materials inventory, May 1 Work-in-process inventory, May 1 Finished goods inventory, May 1 Materials inventory, May 31 Work-in-process inventory, May 31 Finished goods inventory, May 31 15,000 Supplies used Factory insurance Commissions paid Factory supervision Advertising 675 12,500 350 6,685 2,500 9,500 2,225…

Geneva Company reports the following information for July: Sales $ 762,000 Variable cost of goods sold 229,000 Fixed cost of goods sold 104,000 Calculate the contribution margin for July. Multiple Choice

The following information is available from the accounting records of Wisconsin International Inc..   Sales at 65% of Capacity   $89,500 Fixed costs $36,950   Variable costs $28,350   Total costs   $65,300  Net Income   $24,200     a) Compute the break-even point in sales dollars (round off two the nearest cent)  $ b) Compute the break-even point as a percent of capacity. (round off two decimal places)  %

Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit)       $ 70,000   Less cost of goods sold ($58 per unit)         40,600   Gross margin         29,400   Less operating costs:                Commissions expense ($6 per unit) $ 4,200            Salaries expense   7,900            Advertising expense   5,900            Shipping expense ($1 per unit)   700     18,700   Operating income       $ 10,700                 Per Unit select an income statement item                                                                  $enter a dollar amount    $enter a dollar amount  select an opening name for section one                                                           :             select an income statement item                                                              $enter a dollar amount        enter a dollar amount select an income statement item…

Simple Accounting - CPV. The unit price for towel is $18.59 and the variable cost is $7.11. If the fixed cost for the retailer is $22,853.71 and the targeted operating income is $40,500.00, how many units should be sold (round to the nearest unit)? O a. 5,519 O b. 8,911 O c. 3,408 O d. 2,465