Ron Company has the following commission schedule: Commission rate 2% 3.5% 4% Calculate the gross earning. Employee Sales Up to $80,000 Excess of $80,000 to $100,000 More than $100,000 Bill Moore Total sales Gross earning $ 141,000
Q: Using the high-low method, calculate Adams Company's total expected cost for October.
A: High-low method is one of the techniques that is used to separate fixed and variable components from…
Q: This table shows the amount of commission earned for a broker receiving 3% commission on sales. How…
A: Commission earned is an income earned by some salesmen because the product is not owned by the…
Q: Product A Product B Product C Total Sales $ 150,000 $ 130,000 $ 90,000 $ 370,000 Variable…
A: We know that at break-even sales company can recover all the cost incurred in the production of…
Q: Marketing Promotions Marketing salaries 1,50,000 2,50,000 Distribution Cost 1,75,000 Customer…
A: STATEMENT OF COST OF GOODS MANUFACTURED PARTICULAR WORKING AMOUNT Direct Material…
Q: Complete the following table: Employee Ryan Total sales $ 291,000 Commission rate 6 % Draw $ 7,800…
A: The question is based on the concept of Financial Accounting.
Q: dies. income statement follows. sales Cost of goods sold Gross profit MERLINE MANUFACTURING Income…
A: Budgeting:Budgeting is the process of predicting future values in terms of sales, purchases, and…
Q: ales. How much would this agent earn in commission for $680,000 in sales?
A: Commission is the return earned by sales person on every sales made. It is a fixed amount and is…
Q: per Month Liter Revenue $ 21.00 June $ 133,540 Raw materials $ 5.55 $ 37,130 Wages $ 6,500 $ 2.30 $…
A: Revenue variance measures the difference between actual and budgeted income, while spending variance…
Q: 2. The earnings from a sales representative position are called compensation. Based on the following…
A: Commission is an important source of revenue for the employees along with basic salary. This is…
Q: Assume a Potbelly's restaurant has the following information available regarding costs at represent-…
A: The high-low method serves as a managerial accounting tool to dissect mixed costs into fixed and…
Q: The following information pertains to Monroe Company: Month Sales Purchases January $62,000 $33,000…
A: Purchases may be made in cash or by credit. The credit purchases have to be paid for in the months…
Q: Q1 Irfan Corporation contribution margin ratio is 22% and its fixed monthly expenses are Rs. 54,000.…
A: Net Operating Income = Contribution margin - Fixed Cost Fixed Cost is given directly in the…
Q: Macee Store has three operating departments, and it conducts advertising that benefits all…
A: Lets understand the basics.Indirect costs needs to allocate to the production department because…
Q: Jamie Hopen, CPA, prepares tax returns. The production costs and the number of tax returns prepared…
A: Unit Cost It is the total cost incurred to produce and sell one unit of a particular product or…
Q: Myron Sherzer, appliance sales. 8% commission on first $2200. 12% commission on sales over $2200.…
A: total commission = 8% of 2200 + 12% of (4350 - 2200) total commission = 176 + 258
Q: Accounting Chosen totals and balances of accounts are as follows (in USD): Expenses by nature 350…
A: Journal Entry The purpose of preparing the journal entry to enter the required transaction into…
Q: Mercury Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Net Sales…
A: Following is the Contribution Margin Income statement when sales level is $248,000.
Q: Macee Store has three operating departments, and it conducts advertising that benefits all…
A: Lets understand the basics. Indirect costs needs to allocate to the production department because…
Q: For February, sales revenue is $596,000, sales commissions are 7% of sales, the sales manager's…
A: The selling expenses are the operating expenses including sales commission, sales manager salary,…
Q: Don't give answer in image format
A: Cash payment for purchase budget :— Thos budget is prepared to estimate the payment for purchase…
Q: For February, sales revenue is $900,000; sales commissions are 5% of sales; the sales manager's…
A: Introduction: The costs of delivering, marketing, and selling goods or services are referred to as…
Q: mo Company operates three production departments as profit centers. The following information is…
A: Departmental contribution is the amount of money earned by the entity after deducting the direct…
Q: For February, sales revenue is $595,000, sales commissions are 6% of sales, the sales manager's…
A: Introduction: Selling expenses are the costs of distributing, advertising, and selling a product or…
Q: Company XYZ made total sales revenue of $400,00 costs were $20,000. The variable selling and admir…
A: Ans. To get contribution margin, variable costs are deducted from sales amount. The variable selling…
Q: Robin Compary has the following balances for the cuIrent mont $24,000 $36,800 $19,200 $ 1,800 $…
A: Manufacturing cost is incurred only in the factory directly or indirectly related to the production…
Q: For February, sales revenue is $552,000, sales commissions are 4% of sales, the sales manager's…
A: Selling expense : Selling expense is the company's cost of selling, distributing, and marketing the…
Q: 8. Sam Rupp is a sales representative for Benton Computer Company. He is paid a commission of 6% on…
A: Sale (S) = $ 85,900 Commission rate up to $ 50,000 sale (C1) = 6% Commission rate over $ 50,000 sale…
Q: $61,000 52,600 $ 8,400 Sales Cost of goods sold Gross profit Operating expenses 13,500 Operating…
A: Contribution=Sales-Variable costs
Q: Accounting Menlo Company distributes a single product. The company's sales and expenses for last…
A: Introduction Break Even Point: When total cost and total income are equal, a small firm is…
Q: HD marketing channel team estimated Net sales and other expenses and created a profit-and-loss…
A: A profit and loss statement is one of the financial statements prepared by business organizations.…
Q: Jin's regular rate of pay is $22 per hour. He is given 1.5 times the rate of pay for days he works…
A: Amount earned during the week=Regular pay+Overtime pay
Q: Complete the following table: End-of-month commission Commission Employee Total sales Draw rate…
A: Given, Rate of Commission = 6% Total sales = $ 2,94,000 Commission payable = 6% of Total sales =…
Q: Regarding the labor costs, one company shown the following annual data per employee: Gross Annual…
A: The payroll expense includes the amount paid to workers and any other payroll related liability. The…
Q: Activity-Based-Costing Last month operating results: A $000 B $000 C $000 Total $000…
A: : We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: Table Cost.12: Amount Interest Rates Loan #1 = $28,000 2.40% Loan #2 = $40,000 2.50% Owner's Last…
A: INCOME STATEMENT Income Statement is one of the Important Financial Statement of the Company. Income…
Q: calculating commissions The M7H pays its employees an hourly wage plus commision of 7% of their…
A: Total wages is calculated by multiplying wage rate into hours worked and add commission to calculate…
Q: The sales clerks of Teresa's Treasures are paid a salary of $225 per week plus a commission of 8% on…
A: 1. Tina Valendez Commission = $ 2,392.50 x 8% = $ 191.4 2. Jan Yarrow Commission = $ 3,480.75 x 8%…
Q: 1. The following details have been extracted from the budget of a merchandising company. Rent…
A: Cash budget is prepared by the entity to determine the future cash flows. The budget is prepared in…
Q: Agent Blaze Flexible Selling and Administrative Expenses Budget For the Month Ending January 31,…
A: FLEXIBLE BUDGETA flexible budget is a budget that is prepared for different levels of activity,…
Q: For February, sales revenue is $638,000, sales commissions are 5% of sales, the sales manager's…
A: Selling expenses are all the expenses which incurred by the sales department.Such as sales…
Q: Macee Store has three operating departments, and it conducts advertising that benefits all…
A: DepartmentSalesPercent of Total Cost…
Q: AIR Co. manufactures one main product and two by-products, A and B. Data for April follows: Main…
A: The products that are produced jointly with other products in a process are joint products. In this,…
Q: Rutland Business Services (RBS) provides miscellaneous consulting and services to local businesses.…
A: Revenue: Revenue, often referred to as sales or income, is the total amount of money earned by a…
Q: Lee Company pays its employees on a variable commission scale: 6% on the first $40,000 sales, 7% on…
A: Introduction: As per variable commission pay mechanism, employees are paid on the basis of total…
Q: Vulcan Company's contribution format income statement for June is as follows: Vulcan Company Income…
A: A contribution format income statement provides a breakdown of a company's revenues, costs, and…
Q: For February, sales revenue is $613,000, sales commissions are 4% of sales, the sales manager's…
A: Selling Expenses:The expenses that are related to the sales of goods or services are known as…
Q: A company has two service departments (S1 and S2) and two production departments (P1 and P2).…
A: Here discuss about the details of the allocation of cost to the different service department and its…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Choose the best1. Fruit Tea's data show the following information: Aug. 25,000 31 1.75 Estimated sales (units) Sales price per unit Direct labor per unit unit $ $ Labor rate per hour $ C. Direct materials budget d. Direct labor budget Sept. 25,000 31 $ $ $ 21 $ Nov. Dec. 27,500 28,000 $ $ 31 $ 31 1.75 $ 1.75 $ 1.50 $ 1.50 $ 1.50 1.50 $ 21 $ 24 $ 24 $ 24 Oct. 27,000 31 New machinery will be added in October. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material requires 2.5 pounds per unit at a cost of $5 per pound. The ending inventory required for direct materials is 20% of the next month's needs. In August, the beginning inventory is 3,750 units of finished goods and 13,125 pounds of materials. For the first quarter ending in October prepare a: a. Sales budget b. Production budget 4These salespeople are paid a minimum monthly salary or commission, whichever is greater. Find the monthly commission and gross pay. # Salesperson 15 Moser 16 Zinn 17 Schwartz 18 Flores 19 Barksdale Minimum Monthly Salary $2,100 1600 3140 850 3410 Total X Commission Monthly Rate Sales $28,000 23000 31000 10000 29100 X X X X X 8.0% 6.5% 9.25% 3.5% 12.1% = Monthly Commission Gross Pay
- For February, sales revenue is $579,000, sales commissions are 7% of sales, the sales manager's salary is $80,300, advertising expenses are $87,600, shipping expenses total 3% of sales, and miscellaneous selling expenses are $2,000 plus ½ of 1% of sales. Total selling expenses for the month of February are a. $230,695 b. $227,800 c. $169,900 O d. $210,430For February, sales revenue is $610,000, sales commissions are 7% of sales, the sales manager's salary is $91,600, advertising expenses are $92,700, shipping expenses total 3% of sale, and miscellaneous selling expenses are $2,200 plus 1/2 of 1% of sales. Total selling expenses for the month of February are a.$247,500 b.$250,550 c.$186,500 d.$229,200For February, sales revenue is $620,000, sales commissions are 6% of sales, the sales manager's salary is $80,300, advertising expenses are $80,200, shipping expenses total 2% of sale, and miscellaneous selling expenses are $2,700 plus 1/2 of 1% of sales. Total selling expenses for the month of February are O $212,800 O b. $200,400 O c. $215,900 Od $163,200
- For February, sales revenue is $606,000; sales commissions are 5% of sales; the sales manager's salary is $91,600; advertising expenses are $81,900; shipping expenses total 4% of sales; and miscellaneous selling expenses are $3,000 plus 1/2 of 1% of sales. Total selling expenses for the month of February are Oa. $176,500 Ob. $206,800 Oc. $234,070 Od. $231,040given: $14.42 hourly wage , $412 sales target per hour, 40 hours If sales > 16,480 associate receives commission of 7.35 of sales no hourly wage If sales < 16,480 employee is paid hourly wage no commission Plot associates weekly compensation as a function of weekly sales6. Using a responsibility income statement Shown below is the current monthly income statement of Metro Video, by profit centers: Sales Variable Costs Contribution margin Fixed costs traceable to departments Departments responsibility margins Common fixed costs Income from operations METRO VIDEO Income Statement by Profit Centers For the Month Ended April 30, 20 Metro Video Dollars % $560,000 100 (268,800) (48) $291,200 52 (67,200) (12) $224,000 (61,600) $162,400 40 29 Equipment Sales Dollars $280,000 (198,800) $ 81,200 (25,200) Segments $56,000 % 100 71) 29 (09) Video Rentals Dollars $280,000 (70,000) $210,000 (42,000) 20 $168,000 % 100 (25) 75 (15) 60 On the basis of this information, compute the increase in monthly income from operations that may be expected to result from each of the following actions: (a) Spending $5,000 per month in advertising is expected to increase sales in the Equipment Sales Department by 35%. $_ (b) Closing the Equipment Sales Department and allowing the…
- Divisions A and B of Denner Company reported the following results for October: Division A Division B Sales $90,000 $150,000 Variable Expenses as a Percentage of Sales 70% 60% Segment Margin $2,000 $23,000 If common fixed expenses were $31,000, what were the total fixed expenses?Expenses Advertising 1,200 Employees 7,680 License 1,100 Merchandise 1,500 Utilities 3,800 Liability Insurance (monthly) 88.08 Total Expenses $15,368 Gross Income 29800 15% Income Tax ? Net Profit ? Revenue = $33,610 Identify 15% income tax (show work) Identify Net Profit (show work) Identify at least 6 fix costs and 8 variable costs List the second income statement to show you cut 15% cost either fix or variable or both SHOW WORK and EXPLAIN11. The sales clerks of Teresa's Treasures are paid a salary of $225 per week plus a commission of 8% on all sales they make. Find the amount of commission and gross earnings for these employees. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) Sales for the Week Name Commission Gross Earnings Tina Valendez $2,392.50 $4 Jan Yarrow $3,480.75 2$ $4