Hi Please give me step by step instructions to see how I get the correct answer. The decision to Discontinue a Product On the basis of the following data, the general manager of Featherweight Shoes Inc. decided to discontinue Children's Shoes because it reduced income from operations by $17,000. Featherweight Shoes Inc.Product-Line Income StatementFor the Year Ended April 30, 2016   Children's Shoes Men's Shoes Women's Shoes Total Sales   $235,000     $300,000     $500,000   $1,035,000 Costs of goods sold: Variable costs $130,000 $150,000 $220,000 $500,000 Fixed costs 41,000 60,000 120,000 221,000 Total cost of goods sold $171,000 $210,000 $340,000 $721,000 Gross profit $64,000 $90,000 $160,000 $314,000 Selling and adminstrative expenses: Variable selling and admin. expenses $46,000 $45,000 $95,000 $186,000 Fixed selling and admin. expenses 35,000 20,000 25,000 80,000 Total selling and admin. expenses $81,000 $65,000 $120,000 $266,000 Income (loss) from operations $(17,000) $25,000 $40,000 $48,000   If the children Shoe's are discontinued, the company's ________________ Income or loss?  would _______________________ increase or decrease   by $. (dollar amount ___________________________

Required information In October, Nicole eliminated all existing inventory of cosmetic items. The trouble of ordering and tracking each product line had exceeded the profits earned. In December, a supplier asked her to sell a prepackaged spa kit. Feeling she could manage a single product line, Nicole agreed. Nicole's Getaway Spa (NGS) would make monthly purchases from the supplier at a cost that included production costs and a transportation charge. NGS would keep track of its new inventory using a perpetual inventory system. On December 31 of last year, NGS had 10 units at a total cost of $6.90 per unit. Nicole purchased 30 more units at $8.50 in February. In March, Nicole purchased 10 units at $10.50 per unit. In May, 50 units were purchased at $10.30 per unit. In June, NGS sold 50 units at a selling price of $12.50 per unit and 30 units at $10.50 per unit. 2. Compute the Cost of Goods Available for Sale, Cost of Goods Sold, and Cost of Ending Inventory using the first-in, first-out…

ABC Manufacturing produces metal lampposts. The company's income statements for the last two years are given below. The company has no beginning or ending inventories. Last year 60,000 This year 85,000 $2,040,000 Units sold Sales $1,440,000 Less cost of goods sold Gross margin Less operating expenses 785,000 1,060,000 655,000 980,000 237,000 312,000 Net income $418.000 $668.000 Using the high/low method, determine the company's total variable cost per unit. O $15.50 per unit O $12 per unit O $11.75 per unit O $14 per unit

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Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses as shown by its most recent monthly contribution format Income statement: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) $ 1,601,000 530,090 1,070,910 1,178,000 $ (107,090) In an effort to resolve the problem, the company wants to prepare an Income statement segmented by division. Accordingly, the Accounting Department provided the following Information: Sales Variable expenses as a percentage of sales Traceable fixed expenses East $ 401,000 49% $ 293,000 Required 1 Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Prepare a contribution format income statement segmented by divisions. Required: 1. Prepare a contribution format Income statement segmented by divisions. 2-a. The Marketing Department belleves increasing the West Division's monthly advertising by $30,000 will increase that division's sales…

Required information In October, Nicole eliminated all existing inventory of cosmetic items. The trouble of ordering and tracking each product line had exceeded the profits earned. In December, a supplier asked her to sell a prepackaged spa kit. Feeling she could. manage a single product line, Nicole agreed. Nicole's Getaway Spa (NGS) would make monthly purchases from the supplier at a cost that included production costs and a transportation charge. NGS would keep track of its new inventory using a perpetual inventory system. On December 31 of last year, NGS had 20 units at a total cost of $5.40 per unit. Nicole purchased 30 more units at $7.40 in February. In March, Nicole purchased 20 units at $9.40 per unit. In May, 60 units were purchased at $9.20 per unit. In June. NGS sold 60 units at a selling price of $11.40 per unit and 50 units at $11.60 per unit. 2. Compute the Cost of Goods Available for Sale, Cost of Goods Sold, and Cost of Ending Inventory using the first-in, first-out…

The Specter Company is a merchandising firm that sells a single product. The company'srevenues and expenses for the last three months are given below:April May JuneSales in units 4,500 5,250 6,000Sales revenue $630,000 $735,000 $840,000Less cost ofgoods sold252,000 294,000 336,000Gross Margin 378,000 441,000 504,000Less operatingexpenses:Shippingexpense56,000 63,500 71,000Advertisingexpense70,000 70,000 70,000Salaries andcommissions143,000 161,750 180,500Insuranceexpense9,000 9,000 9,000Depreciationexpense42,000 42,000 42,000Total operatingexpenses320,000 346,250 372,500Net income $58,000 $94,750 $131,500Required:a. Determine which expenses are mixed and, by use of the high-low method, separate eachmixed expense into its variable and fixed components. State the cost formula for eachmixed expense. All calculations must be shown. b. Compute the company's total contribution margin for May. Calculation must be shown

Assuming that Halton Co. uses the Average Cost method and that retail clothing is not in great demand currently as numerous other products have flooded the market and styles change constantly, the market value for total inventory is 65,000. Is a writedown necessary? How much would need to be written down?